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

how is the effect of force exerted on a body measured
Is it possible to have a triangle such that none of the exterior angles is obtuse? Please help and explain
Which of the following equations has the correct products and is balanced correctly for a reaction between Na3PO4 and KOH? A) Na3PO4 + 3KOH → 3NaOH + K3PO4, b
Answer this Question Please!
Which of the following is a true statement? A. In the process of freezing, a liquid loses kinetic energy and turns into a solid. B. In the process of freezing,
592 rounded to nearest hundred
How do self interest and competition affect the free market
Which of the following is a vector quantity? A. 83 ounces of liquid B. 55 km/hr in a truck C. 15 seconds of travel D. 10 m/s down
Multiply. The question is in the picture.
A store allows customers to fill their own bags of candy. Terri decides she only wants jelly beans and chocolate drops. Jelly beans sell for $0.90 per pound, an