menu
Qammunity
Login
Register
My account
Edit my Profile
Private messages
My favorites
Ask a Question
Questions
Unanswered
Tags
Categories
Ask a Question
You invest $3,000 in an account that has an annual interest rate of 2.5%, compounded continuously. How much money will be in the account after 5 years? Round your answer to the nearest whole number. Show
asked
Jan 3, 2019
164k
views
2
votes
You invest $3,000 in an account that has an annual interest rate of 2.5%, compounded continuously. How much money will be in the account after 5 years? Round your answer to the nearest whole number. Show all work.
Mathematics
high-school
Srinivasu U
asked
by
Srinivasu U
8.2k
points
answer
comment
share this
share
0 Comments
Please
log in
or
register
to add a comment.
Please
log in
or
register
to answer this question.
1
Answer
1
vote
Here' s the equation for one year:
0.025(3000) + 3000
Because it is 5 years:
5(0.025(3000)) + 3000
0.075(3000) + 3000
We can make it simpler:
1.075(3000)
Multiply:
3225
You will have $3225
Danylo Korostil
answered
Jan 9, 2019
by
Danylo Korostil
8.3k
points
ask related question
comment
share this
0 Comments
Please
log in
or
register
to add a comment.
← Prev Question
Next Question →
No related questions found
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.
9.4m
questions
12.2m
answers
Other Questions
How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement how thick must the cement be to cover field
Write words to match the expression. 24- ( 6+3)
Twitter
WhatsApp
Facebook
Reddit
LinkedIn
Email
Link Copied!
Copy
Search Qammunity