Helpafellowstudent Helpafellowstudent
  • 12-07-2017
  • Mathematics
contestada

You deposit $1,000 in a certificate of deposit that pays 5.9% interest, compounded annually. What is your balance after 3 years.

Respuesta :

Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 12-07-2017
The formula is
A=p (1+r)^t

A future value?
P present value 1000
R interest rate 0.059
T time 3years

A=1,000×(1+0.059)^(3)
A=1,187.65
Answer Link

Otras preguntas

Which of the following offers the most complete definition of metabolism? the biochemical reactions that occur in nature the biochemical reactions that relat
What percent is tungsten made of from soil?
What was the original foreign policy of the U.S
Are these numbers equivalent? 9(g+h) and 9g+9h
In △ABC, point P∈ AB is so that AP:BP=1:3 and point M is the midpoint of segment CP . Find the area of △ABC if the area of △BMP is equal to 21m2.
Graph the linear function r(x)=2
100 students are surveyed, 25 said they would vote for Jessica for class president if 2000 students voted in the school's election about how many votes should J
how does genetic diversity affect biodiversity in an area provide an example
Find the five arithmetic means between -18 and 36
A recipe calls for their ratio of sugar to flower to be 10.3. If you use 70 ounces of sugar how many ounces of flour would you need to use?