tranle050306 tranle050306

15-05-2020
Mathematics

contestada

you invest $2000 into savings account that gets 5% interest compounded yearly. How much money will you have after 7 years?

Respuesta :

sqdancefan sqdancefan

15-05-2020

Answer:

$2814.20

Step-by-step explanation:

The multiplier each year is 1.05, so after 7 years the principal invested will be multiplied by 1.05^7. (The exponent indicates repeated multiplication.)

After 7 years, the balance will be ...

$2000×1.05^7 ≈ $2814.20

Answer Link

Otras preguntas

on a bike trip across the United States Rodney notes that he covers about 190 miles every 4 days. if he continues at this rate, use a ratio table to determine a

Nine more than the product of a number and 5 is equal to 7

If you were asked to convert 25 kg to the unit mg, which of the following would be the first fraction used in the conversion?

The dry cleaning fee for 3 pairs of pants is $18. What is the constant of proportionality

Why did Columbus believe he had reached Asia when he had actually traveled less than halfway there? a. He met people who spoke Arabic. b. Columbus believed th

What are the main historical sources of the democratic tradition

mixed numbers between 6 and 8 with an interval of 1/4 between each pair of mixed numbers

Donnel practiced the piano 3 hours longer than Marcus. Together they practiced the piano for 11 hours. How many hours did each boy practice??

What is 12r-8-12 when combining like terms?

Among third-party candidates, which one is thought to have split the conservative vote in a recent election? a. John Edwards b. Pat Buchanan c. Ross Perot d.