MakaylaU761217 MakaylaU761217

03-11-2022
Mathematics

contestada

Find the total amount in the compound interest account $10000 is compounded semiannually at a rate of 11% for 20 years. (Round to the nearest cent.)

Respuesta :

EvelinnD277321 EvelinnD277321

03-11-2022

The compound interest formula is:

[tex]A=P(1+\frac{r}{m})^{mt}\begin{cases}A=amount \\ P=initialValue \\ r=interest \\ m=\#timesCompounedPerYear \\ t=years\end{cases}[/tex]

Therefore:

[tex]A=(10000)(1+\frac{0.11}{1})^{20}=80623.12[/tex]

Answer Link

Otras preguntas

write the equation in function form.then graph the equation x-3y=-9 ???

in a geometric series t1=23,t3=92 and the sum of all of the terms of the series is 62813. How many terms are in the series

He believed that while there is serious unemployment in our auto industry, we should not ________ foreign cars. (A) build (B) repair (C) review (D) import (E) c

why did the citizens of Richmond, Virginia feel upset about the actions at Fort Sumter ?

What Is the National Prohibition Act?

The accompanying frequency table indicates the grades on the math midterm in Ms.Dennis' class. In which interval does the median of the date lie?

algae do not cause disease or not

Which is an example of bivariate data?(1) age of students in a club(2) grade level and age of students in a school(3) type of lunch each student orders at schoo

In a titration, 45.0 mL of KOH is neutralized by 75.0 mL of 0.30M HBr. How much KOH is in 1.0 liter of the KOH solution ?

A climber is on a hike.after 2 hours he is at an altitude of 400 feet. After 6 hours, he is at an altitude of 700 feet. What is the average rate of change?