texanbaby1977 texanbaby1977

01-10-2017
Mathematics

contestada

Garrett has deposited $519 in a savings account that earns interest at a rate of 4.2% compounded daily. What will the account balance be in 17 years?

Respuesta :

Aliwohaish12 Aliwohaish12

02-10-2017

The formula is
A=p (1+r/k)^kt
A future value?
P present value 519
R interest rate 0.042
K compounded daily 365
T time 17 years
A=519×(1+0.042÷365)^(365×17)
A=1,059.83

Hope it helps!

Answer Link

Otras preguntas

What does it mean when your immature granulocytes are high?.

Robert gets a loan from his bank. He agrees to borrow £6 000 at a fixed annual simple interest rate of 7%. He also agrees to pay the loan back over a 10-year p

Slope undefined; containing the point (-5/8, 4)

Please help. I don't understand.

What motivated the unethical behavior of real estate agents, lenders, and borrowers that led to the financial crisis of 2008?.

what was the center idea for president volodymtr zelenskyy’s (president of ukraine) speech???

what is 3 / 66.9 explain how u got the answer

What is a slient mutation

One method of denying pests access to an operation is to:.

Write a claim indicating which type of beak has an adaptive advantage in Geospiza fortis during a drought. Next, provide evidence to support your claim. Finally