tsukihime
tsukihime tsukihime
  • 02-11-2017
  • Mathematics
contestada

3. Susan invested $10,000 in an account that earned 3% interest, compounded monthly.
a. Write an exponential growth/decay formula to model the situation.
b. What is the value of this account after 5 years? Express your answer rounded to the nearest cent.

Respuesta :

musiclover10045
musiclover10045 musiclover10045
  • 03-11-2017

A) total = 10,000 *(1+0.03/12)^(12*t)


B) t = 5 years

10,000 *(1+0.03/12)^(12*5 ) = $11,616.17


Answer Link

Otras preguntas

what other areas beside egypt did the new kingdom pharoahs conquer
write words to match the expression. 24- ( 6+3)
which city was located nearest the nile river delta
If you are writing a persuasive essay in favor of banning vending machines in schools, which is a counterargument you might anticipate?
If you are writing a persuasive essay in favor of banning vending machines in schools, which is a counterargument you might anticipate?
what other areas beside egypt did the new kingdom pharoahs conquer
Which two numbers have a difference of 5 and a product of 3.36???
which city was located nearest the nile river delta
what other areas beside egypt did the new kingdom pharoahs conquer
what other areas beside egypt did the new kingdom pharoahs conquer