Mathematics
19.10.2020 18:30
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Find the balance in the account. $700 principal earning 5%, compounded monthly,
Find the balance in the account.
$700 principal earning 5%, compounded monthly, after 9 years
a. $1,096.79
b. $16,088.19
c. $79,380.00
d. $1,085.93
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$700 principal earning 5%, compounded monthly, after 9 years
a. $1,096.79
b. $16,088.19
c. $79,380.00
d. $1,085.93
princessksh8
4,7(33 marks)
700*(1+0.05/12)^(9*12)
700*1.56684665 = 1096.79
The answer is A
TexaSuperdude
5,0(53 marks)
The answer above ^ just gave you the right explanation.
You first change the mixed number into an improper fraction
5 2/3 = 17/3.
Then do the reciprocal. This means that you just have to turn the fraction upside down.
= 3/17.
You first change the mixed number into an improper fraction
5 2/3 = 17/3.
Then do the reciprocal. This means that you just have to turn the fraction upside down.
= 3/17.
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