Robinlynn228
08.12.2020 •
Mathematics
Suppose you invest $3500 at annual interest rate of 2.5 % How much money do you have in the account after five years?
Round two decimal places.
compounded monthly $
compounded weekly $
Solved
Show answers
More tips
- F Food and Cooking When is Easter in 2011?...
- L Leisure and Entertainment Scrapbooking: What is it and Why is it Becoming More Popular?...
- H Horoscopes, Magic, Divination How to Cast a Love Spell on a Guy? Guide for Guys...
- F Family and Home How to Sew Curtain Tapes: Best Tips from Professionals...
- S Style and Beauty How are artificial nails removed?...
- S Style and Beauty How to Make Your Lips Fuller? Ideas and Tips for Beautiful Lips...
- F Food and Cooking The Disease That Haunted Abraham Lincoln...
- C Computers and Internet How to Get Rid of Windows Genuine Check?...
- H Health and Medicine How to perform artificial respiration?...
- S Style and Beauty Tricks and Tips: How to Get Rid of Freckles...
Answers on questions: Mathematics
- M Mathematics Hi, i need this quickly, thanks so much...
- M Mathematics Ellie wrote each letter of the word blanket on cards, as shown below, and placed them in a bag. she drew one card at random from the bag, and then drew a second card without replacing...
- E English Match each term with its correct definition Column A Column B 1. indictment a. originating 2. catatonic b. the state of being equal 3. menacing c. immobile; unresponsive 4. vulnerable...
- M Mathematics What is the circumference of a circle with a diameter of 3.4 cm? use 3.14 for pi. enter your answer as a decimal in the box....
- E English Can someone create a vignette on a positive story experience at school...
Ответ:
Please check the explanation.
Step-by-step explanation:
To find the amount we use the formula:
Here:
A = total amount
P = principal or amount of money deposited,
r = annual interest rate
n = number of times compounded per year
t = time in years
Given
P=$3500
r=2.5%
n=12
t = 5 years
Calculating compounded monthly
After plugging in the values
Thus, If you deposit $3500 into an account paying 2.5% annual interest compounded monthly, you will have $3959.93 after five years.
Calculating compounded weekly
n = 52
A = 3,965.90
Thus, If you deposit $2000 into an account paying 4.5% annual interest compounded weekly, you will have $3,965.90 after five years.
Ответ: