zenidamjd04
zenidamjd04 zenidamjd04
  • 11-10-2021
  • Mathematics
contestada

An investment of P=1237.50 is compounded annually with a 6.75% APR . Find the value of the investment after 5 and a half years.

Respuesta :

mhanifa
mhanifa mhanifa
  • 11-10-2021

Answer:

  • 1772.43

Step-by-step explanation:

Given:

  • Principal P = 1237.50
  • Interest rate r = 6.75% or 0.0675
  • Number of compounds n = 1
  • Time t = 5.5 years

Find the total:

  • [tex]A = P(1 + r/n)^{nt}[/tex]
  • [tex]A = 1237.5*(1+0.0675)^{5.5} = 1772.43[/tex]
Answer Link

Otras preguntas

Rick has 12 action, 15 comedy, and 9 drama DVDS. find the ratio of action DVDS to the total of DVDS. Then explain its meaning how would I do this problem?
what is a good attention getter for starting a essay about my plans after high school
What did the geography of Greece helped create?
What is 12% of 85 im having a hard time with this question
why did the United States avoid involvement in World War II until December 1941?
Sin42cos17-cos42sin17
Could an organism survive without one of its organs
what is wrongith this sentence?     He did all the housework today.
What condition fostered the rise of absolute monarch in europe?
Could an organism survive without one of its organs