bewellplus.gsu.edu
NenaRubiaa321 NenaRubiaa321
  • 25-01-2016
  • Mathematics
Answered

How much would $200 invested at 5% interest compounded monthly be worth after 9 years? Round your answer to the nearest cent.




A$207.63
B$310.27
C$363.82
D$313.37

Verified Answer :

Panoyin
Panoyin Panoyin
  • 25-01-2016

\(A = P(1 + \frac{r}{n})^{nt}\)
\(A = 200(1 + \frac{0.05}{12})^{(12)(9)}\)
\(A = 200(1 + \frac{1}{240})^{108}\)
\(A = 200(1\frac{1}{240})^{108}\)
\(A = 200(1.56684664942)\)
\(A = 313.369329884\)
\(A = \$313.37\)

Answer Link

Related Questions

Do irrational numbers contain every possible combination of numbers
Do you know a song with the time signature 6 8 that I might of heard of Thanks in advance Xxx
How did knosorovs research affect current theories regarding Mayan writing
what is the best way for your message to have its ultimate impact
What is the decimal equivalent of 9 11
The rule for the number pattern
Express each number in scientific notation 18 8888800
What should be done to treat a seconddegree burn
Assess the extent to which bad road use has a direct impact on the physicalemotionalsocialand economic aspects to the family the community and the country
All of the following occurred during the reign of Catherine the Great EXCEPT a the release of nobles from government service b the freeing of Russian serfs c th