queendaphinepdlv9x queendaphinepdlv9x
  • 02-09-2018
  • Mathematics
contestada

You deposit $2000 each year into an account earning 3% interest compounded annually. How much will you have in the account in 25 years?

Respuesta :

cmoreno511 cmoreno511
  • 02-09-2018

This is what I get.  Total will be 4187.56 with  Interest 2187.56.   By using the formula: To find amount : A=p (1+r/n)^n×t Where P=2000,r=3%,n=1,t=25 So plug in and solve  A=2000(1+0.03/1)^1×25   To find interest you use formula  A=p+I A=4187.56, p=2000,i= we need to find. 4187.56=2000+I 4187.56-2000=I 2187.56=i

Answer Link

Otras preguntas

mariko has 20 nickels and dimes. she has 12 more nickels that dimes. how many dimes does mariko have?
what is the answer x+5>23
What does the quote "art is the only way to run away without leaving home" mean/stand for
is this a true statement 9,300=9.3*10 to the third power
A shirt is on sale for 30% off. The sale price is $51.50. What was the orginail price?
A severe infection can increase protein requirements by
Gatsby believed in the green light, the orgastic future that year by year recedes before us. It eluded us then, but that's no matter—to-morrow we will run faste
Before anyone knew anything about genetics, the Bible stated the limitations to reproduction. True False
Nationalism increased competition for power among european nations because the desire for an empire was fueled by
It is greater than god and more evil than the devil. the poor have it, the rich need it and if you eat it you’ll die. what is it?