malikmar24nightwolf malikmar24nightwolf
  • 04-05-2017
  • Mathematics
contestada

You deposit $10 per month in a bank that offers an annual interest rate of 6%. At the end of three years, your balance is404.95 $517.21 $676.45 $393.94

Respuesta :

BlueSky06
BlueSky06 BlueSky06
  • 16-05-2017
We can compute for the total savings after three years and the solution is shown below:
i = 6%/12 months = 0.5 %
n = 3 years * 12 months = 36
F = P (1+i)^n
F = $10*36 (1+0.005)^36
F = $431

The answer is the letter "A" which is approximately equivalent to $404.95. 
Answer Link

Otras preguntas

Which sentence is written correctly? A) Stephanie spent less money on food because she discovers a dollar store across town. B) To manage our money responsibly,
Which method helps prevent communicable diseases?
A pigeon was shocked every time it landed on the telephone wire after a few times of this the pigeoon learned not to land on the wire it leanred this by
Under the principle of ____________________, both the constitution and civil society constrain government power
How did king george react to the signers of the declaration of independence?
What is the relationship between modernism and Victorian culture?
who is maya angelou and how is she important
The area of a semicircle is 2 times the area of a circle. True False
How did king george react to the signers of the declaration of independence?
What is the sale price of a hardcover book for which the original retail price was 29.00 and the markdown is 46%?