giselledelgado15 giselledelgado15
  • 25-05-2022
  • Mathematics
contestada

You deposit # 100 in a savings account that earns 6% annual interest compounded monthly. What
the balance after 5 years.

Respuesta :

Аноним Аноним
  • 25-05-2022

Answer:

$134.89.

Step-by-step explanation:

Monthly interest = 0.06/12 and its for 5*12 months.

Amount after 5 years = 100(1 + 0.06/12)^(5*12)

= 100(1 + 0.06/12)^60

= $134.89

Answer Link

Otras preguntas

Vosotros ___________________ al restaurante sin angela.
A country’s wealth has little effect on the health and welfare of that country's population.
Urgent~What type of angles are 1 and 5?
How to say hi in german
During their conquest of the Americas, conquistadors were mainly motivated by gold and
how did job specialization most affect society during the neolithic revolution? A.more people chose to hunt and gather food rather than farm the land. B.governm
Which is the iupac name for no?
What two numbers add up to 6.5 and multiply to .64
Which of the following best summarizes the career of Thurgood Marshall? A. Marshall was a minister who, along with the NAACP, filed a lawsuit to allow his daugh
A representative group at an assembly is known as a __________. A. contingent B. resolution C. convention D. federalist