yiannibaptiste yiannibaptiste
  • 24-11-2020
  • Business
contestada

$459 into an investment at 5% for six years. What will the balance be at the end of six years?

Respuesta :

Samawati
Samawati Samawati
  • 25-11-2020

Answer:

A=615.10

Explanation:

The balance after six years is the future value of 459 at a 5% interest rate.

The applicable formula is

A= P( 1+ r )^n

A = amount after six years

P= 459

r=5%

N=6 year

A= 459(1+5/100)^6

A = 459(1.05)^6

A=459 x 1.34

A=615.06

A=615.10

Answer Link

Otras preguntas

Explain what reading materials are you more interested in reading and what reading materials are you not very interested in?
The difference of -3 and -5 is greater than 125. What is the solution set for the number?
Hassan drives his bike 20 km due west then 25 km due north. What is the displacement of Hassan?
What did the railroad do that angered the farmers out West?
A laser printer has a 24-pin printing head. True False
A bicycle manufacturing company makes a particular type of bike. Each child bike requires 4 hours to build and 4 hours to test. Each adult bike requires 6 hours
How did trade help to spread and connect ideas from different cultures? List at least two ideas that may have traveled along the trade routes on the map.
If the diameter of a circle is 6 inches, what is the area? 6 π in. 2 36 π in. 2 3 π in. 2 9 π in. 2
Richards Toy store is having a store-closing sale. All items are given a universal discount rate. The table below shows the price for a variety of items:
Find the area of the trapezoid