melissamclain78 melissamclain78
  • 02-04-2017
  • Mathematics
contestada

Cerebral $500 for four years at 3% interest compounded annually use the formula to calculate the total amount she will have to pay

Respuesta :

LilianFlower
LilianFlower LilianFlower
  • 02-04-2017
Since we're doing compound interest for four years it will be simpler than daily.
In case you didn't know the formula, here it is: A = P (1 +r/n)^(nt)
now lets substitute.
A = 500 (1 + 0.03)^4
A = 500 (1.03)^4
A = 500 (1.12550881)
A = 562.754405
Since that decimal is too big for cash, let's round it. Notice that the number after 5 is lower than 5. Thus the first two numbers stay the same and the final answer will be..
A = 562.75
Hope this helps :3
Answer Link

Otras preguntas

What number and 12 have an average of 27?
Which term best describes the relationships between neighboring Mayan city-states? A nonexistent B harmonious C competitive D commercial
What is the length of the hypotenuse of the triangle?
What is the process of meiosis 2
what is a common mexican last name
since i couldn't find this one brainly, i got it wrong, so i'm gonna post it here. what is the main purpose of this excerpt of the document? when in the course
9. Every day, what three things does the Fed process in large numbers?
ASAP all I know is q3 is c. If you are right I will mark brainiest there are only 3 questions pls my stomach hurts
An expression that equivalent to 12x + 8
2.240 F = d + 2.24 What is the answer