lenailovecamp lenailovecamp
  • 02-02-2020
  • Mathematics
contestada


Sue deposited $2,450 in an account for 12 years at an interest rate of 3% compounded annually.
How much is in her account after the 12 years?

Respuesta :

jay40891
jay40891 jay40891
  • 03-02-2020

Answer:

$3493.11

Step-by-step explanation:

The Total amount after a compound interest can be calculated using the formula:

[tex]T = P(1 + \frac{R}{100})^{n}[/tex]

where P is the amount of deposit, R is the rate of interest, n is the duration.

Hence by substituting the values, we get:

[tex]T = 2450(1 + \frac{3}{100})^{12}[/tex]

T = $3493.11 (nearest cent)

Answer Link

Otras preguntas

(Will give Brainliest/5 stars for correct answer) Two triangles can be formed with the given information. Use the Law of Sines to solve the triangles. B = 46°,
What drew hundreds of thousands of people westward in the late 1800's?
Which statement about this product is true? 0.36×(−758) A.) It is less than −758-758 because multiplying by a number less than 11 gives a smaller number. B.)
Which of these lines contains a simile? She spoke to the tree, admonishing its impudent, craggy boughs. She was transformed into a reptileóone of particula
Some proteins within a cell can be viewed with ________.
find the measure of DBE if abc is 145 answers 30 60 90 145
What are some of the inventions and ideas attributed to Leonardo da Vinci?
El cuento Escribe in cuento de in parrafo
what are the inner planets relative distance from the sun
Which of the following describes someone who is questioning? Check all that apply.