nutahelos72 nutahelos72

Today at 8:44 AM
Mathematics

Answered

Kamal invested $1200 in a savings acc paying 1.8% per yr compound interest.
he left the money in the acc for 5 yrs.

what is the amount of money in the acc at the end of 5 yrs???
give the ans with working and to the nearest cent

Answer :

sreedevi102 sreedevi102

Today at 8:49 AM

Answer:

A = $1311 and 96cents

Step-by-step explanation:

[tex]A = P(1 + \frac{r}{n})^{nt}[/tex]

P = $1200

r = 1.8% = 0.018

n = 1 (compounded yearly)

t = 5

[tex]A = 1200(1 + 0.018)^5 = 1200 \times(1.018)^5 = 1311. 96[/tex]

Answer Link

Other Questions

Suppose are the coefficients of four consecutive terms in the expansion of (1+x)n are a₁, a₂, a₃, a₄ respectively , then show that:a₁/(a₁ + a₂) + a₃/(a₃+a₄) = 2

Suppose the quadratic polynomial P(x) = x² + x + c has positive coefficients , , c in arithmetic progression in that order. If P(x) = 0 has integer roots and ,

I need help with 19 , 29 , and 32 .. if u find 19 plz provide the equation

In the question, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice.Assertion: The value of is 3. For which the dist

which of the following is an example of a common topic. A) anyone can be brave. B) freedom takes sacrifice. C) the box was broken. D) bravery.

What is the botanical name of Onion?

What are radiators ?

List the side lengths form shortest to longest. One is 47 and the other one is 35 degree what is the other degree in the triangle

What are synthetic fibres? Yaravuthu irukingala?

find the value of -1/8÷3/4

Which of the following is a common physical sign of trauma? a) Change in sleep b) Headaches c) Depression d) Both a and b

A cryptojacking campaign involving Linux malware is targeting misconfigured Apache Hadoop, Confluence, Docker, and Redis instances with new and unique malicious

Based on the bullet's trajectory (and the Scale of the room: 1mm = 4 inches), do you think it is likely that the shooter was standing in the doorway when the sh

A spread value, included as an optional value for the CSS box-shadow property, expands or shrinks the rendered shadow behind the element. a) True b) False

List at least three organisations to whom serious incidents should be reported in Australia. a) Australian Health Practitioner Regulation Agency (AHPRA) b) Ther

Which awareness refers to the ability to maintain a temporal movement pattern?

Match the director to their style. a) Spike Jonze b) David Fincher c) Michel Gondry d) Francis Lawrence

Consider the following argument: If Pluto is a planet, then tomorrow is Wednesday. Tomorrow is Wednesday. Therefore, Pluto is a planet. Which is a counterexampl

What is the circumference of a 12 inch pizza

Identify the correctly punctuated sentence. a. Maurice was nominated for the top management award; three times he won twice. b. Maurice was nominated for the to