menu
QAmmunity.org
Login
Register
My account
Edit my Profile
Private messages
My favorites
Register
Ask a Question
Questions
Unanswered
Tags
Categories
Ask a Question
On January 1st, 2003, Gerry opened a savings account that paid 3. 25% annual interest. His initial deposit was $1,100. If Gerry didn’t deposit or withdraw any additional money, what was his balance at
asked
Jan 27, 2023
147k
views
3
votes
On January 1st, 2003, Gerry opened a savings account that paid 3. 25% annual interest. His initial deposit was $1,100. If Gerry didn’t deposit or withdraw any additional money, what was his balance at the close of December 31st, 2012?
Mathematics
high-school
Kris Kilton
asked
by
Kris Kilton
6.6k
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.
2
Answers
7
votes
Answer:
1514.59
Explanation:
The equation says
A=p(1+r)^t
A future value ?
P present value which is 1100
R interest rate 3.25%×100=0.0325
T time from January 1st, 2003 to December 31st, 2012 which is 10 years
Now apply them into the equation
A=1,100×(1+0.0325)^(10)
A=1514.59
Hope it helps!
Nakamoto
answered
Jan 29, 2023
by
Nakamoto
6.6k
points
ask related question
comment
share this
0 Comments
Please
log in
or
register
to add a comment.
5
votes
Answer:$1,457.50
Explanation:
Tom Zych
answered
Jan 31, 2023
by
Tom Zych
5.9k
points
ask related question
comment
share this
0 Comments
Please
log in
or
register
to add a comment.
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.
6.6m
questions
8.8m
answers
Other Questions
What is the least common denominator of the four fractions 20 7/10 20 3/4 18 9/10 20 18/25
What is 0.12 expressed as a fraction in simplest form
arlos has $690,000 he wants to save. If the FDIC insurance limit per depositor, per bank, is $250,000, which of these ways of distributing his money between three banks will guarantee that all of his money
Solve using square root or factoring method plz help!!!!.....must click on pic to see the whole problem
What is the initial value and what does it represent? $4, the cost per item $4, the cost of the catalog $6, the cost per item $6, the cost of the catalog?
Twitter
WhatsApp
Facebook
Reddit
LinkedIn
Email
Link Copied!
Copy
Search QAmmunity.org