addieladybug
addieladybug addieladybug
  • 14-07-2017
  • Mathematics
contestada

how much money will you have if you started with $1000 and put it in an account that earned 5% every year for 15 years

Respuesta :

JohnLayton
JohnLayton JohnLayton
  • 14-07-2017
The interest equation is A = P(1 + r)^t. We can plug in the known information to get A = 1,000(1 + 0.05)^15. Next, we can add the 1 and the 0.05 to get A = 1,000(1.05)^15. Finally, we can take 1.05 to the power of 15 and multiply by 1,000 to get an answer of $2,078.93.

Hope this helps!
Answer Link

Otras preguntas

In females, production of the eggs or ova takes place in the ovaries. At certain intervals, approximately every 28 days, the ovaries release an ovum that passes
How many Vice President’s have become President?
Explain how you might determine the rate of weathering on a sample rock
which of the following helps economists judge the overall condition of a particular country's economy?
The volume of a cone is 18π cubic feet. If the height of the cone is 6 ft, what is the radius of the cone? (V = 1 3 πr2h)
Can anyone please help me with this biology question? D:Carbon dioxide and oxygen
Which of these is a form of authoritarian government in which power is handed down througwhen h family lines and rulers stay in power for life?
Brainliest + Points! Please explain !
What is the density of 0.50 grams of gaseous carbon stored under 1.5 atm of pressure at a temperature of -20.0 C?
Emily and a friend bought two tickets to see a soccer game. Each ticket cost $8.25. The friends paid a total of $24.40, which included a fee per ticket for par