trashcanmichell trashcanmichell
  • 03-05-2017
  • Mathematics
contestada

An investment of $8,350 earns 5.2% interest compounded monthly over 10 years. Approximately how much interest is earned on the investment?

Respuesta :

wolf1728
wolf1728 wolf1728
  • 07-05-2017
Total = Principal * (1 + rate/n)^years*n
where n is the number of compounding periods per year
Total = 8,350 * (1 + .052 / 12)^120
Total = 8,350 * (1.0043333333)^120
Total = 8,350 * 1.6801390765
Total = 14,029.16


Answer Link
alexismills83
alexismills83 alexismills83
  • 09-11-2021

Answer:

c

Step-by-step explanation:

Answer Link

Otras preguntas

What is the term utilized when union workers refuse to work due to contractual disagreements
{3x+8y=17 {-2x+9y=3 What is the answer and how do you solve the problem
How are square roots related to the area of a square ?
what materials where used to make the first gps
what is the alphabetical order of these words: sloth slouch slither slime slimey
Juliette is driving her car when she sees a cat run across the road. If she is able to stop the car over a distance of 0.025km in 2.5 s, what is her average acc
Scientists best apply critical thinking in their work through _______. a. the scientific method b. observation c. hypotheses d. experimentation
In the state of Georgia, a juvenile who is 13 years of age can be tried as an adult if he or she...
What is the answer? x<-5 or x> -5? -1/5x-4>-3
How is the equation for a vertical line expressed?