peacelillady1030
12.10.2019 •
Mathematics
The summer after sophomore year, haley nannied for a family and earned $2000. she
decided to save it all and deposit it into an account earning 5.8% interest compounded
monthly. when haley finished college, 6 years later, she decided to use the money to put
deposit on a car. how much money did haley have?
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Ответ:
$2,830.09
Step-by-step explanation:
First, convert R as a percent to r as a decimal
r = R/100
r = 5.8/100
r = 0.058 rate per year,
Then solve the equation for A
A = P(1 + r/n)nt
A = 2,000.00(1 + 0.058/12)(12)(6)
A = 2,000.00(1 + 0.004833333)(72)
Summary:
The total amount accrued, principal plus interest, with compound interest on a principal of $2,000.00 at a rate of 5.8% per year compounded 12 times per year over 6 years is $2,830.09.
Ответ: