angieolivo65 angieolivo65
  • 13-06-2022
  • Mathematics
contestada

COMPOUND AND CONTINUES INTERESTS: please solve ASAP due tuesday

COMPOUND AND CONTINUES INTERESTS please solve ASAP due tuesday class=

Respuesta :

alyshameetooa
alyshameetooa alyshameetooa
  • 13-06-2022

Step-by-step explanation:

The formula goes by:

I= PRT/100

Where I is interest, p is principal, R is rate and T is time.

In the question it says that interest is given monthly, so we have to convert the time(10 years into months)

Principal=5000

Time=10 years × 12months= 120months

Rate=5%(5/100)

Now the formula

Interest= 5000×5×120 / 100

Interest= 30000

So the value in 10years is 5000 + 30000 = 35000

Dont forget your $ sign.

Answer Link

Otras preguntas

Need help answer plzz
What is the slope of y=-2x-3
How many times can 44 go into 253? Show your work please?
Which equation could be the first step in solving 4x+11/3=5x
Plz help me with the hunger games these questions don’t need you to read the book
Constantine MOST LIKELY chose the location for Constantinople because the location A) was convenient. B) enhanced trade. C) encouraged religion. D) appeared
What group didn't support Jimmy Carter during his 1976 campaign?
how to find variables x- and y-
How many molecules of NO2 are produced when 2.0 × 1020 molecules of N2O4 are decomposed according to the following equation? N2O4(g) → 2NO2(g) 2.0 × 1020 1.0 ×
What is the reactance of a 25 mF capacitor when the applied frequency is 400 Hz?