alexandriaps63 alexandriaps63

20-04-2017
Mathematics

contestada

How much money would you need to deposit today at 5% annual interest compounded monthly to have $20000 in the account after 9 years?

Respuesta :

Aliwohaish12 Aliwohaish12

20-04-2017

20000=p(1+0.05/12)^12*9
Solve for p
P=20,000÷(1+0.05÷12)^(12×9)
P=12,764.49

Answer Link

Аноним Аноним

20-04-2017

$12,764.49 because 9 yrs = 108 months
5% annual = (5/12)% per month = 5/1200
FV = PV*(1 + 5/1200)^108 = 20000
PV = 20000/(1 + 5/1200)^108
PV = $12,764.49

Answer Link

Otras preguntas

Simplify......................

describe weeds using it's own letter WEEDS

(1) Grocery shoppers coast their carts through aisles of food with various labels such as “gluten free,” “cage free” “no antibiotics” “grass fed,” “no MSGs,” an

Which property of metals makes them good conductors of electricity? A. Their melting point B. Their mobile electrons C. Their hardness D. Their ductility

change this into a passive voice rhe staff will watch a video

Read the given extract and answer the following questions. TOPIC: Swaminath and his friends “You will be all right, Mother,” he said on the day he left. ‘You’v

Evaluate the work below

What is the ellos/ellas conjunction of Sacar? HELP

Complete with form correct of Verb 1. I am speaking to you. I _________ to you. 2. That man is driving a car. That man ________ a car. 3. My friend is sleeping.

The portion of the Earth and atmosphere where life exists is referred to as the ecosystem. A True B False