willmart willmart

15-05-2018
Mathematics

contestada

a $1600 principal earns 7% annual interest, compounded semiannually. What is the balance after 33 years?

Respuesta :

sqdancefan sqdancefan

15-05-2018

Use the future value formula.
FV = P(1 +r/n)^(nt)
FV = 1600*(1 +.07/2)^(2*33)
FV = 1600*1.035^66 ≈ 15,494.70

The balance after 33 years will be $15,494.70

Answer Link

Otras preguntas

what is 3v+h v=5 h=10 which is what

Describe how scientists can directly measure the movement of tectonic plates.

A CD is being used to store music. Each minute’s worth of recording takes up 12 megabytes. a) The CD contains nine tracks which are the following length (in min

Need help on these ASAP

The Captain told Eddie, “I was the one who _______________ you” the five people you meet in heaven finish the sentence.

What time does the Play right, through bobos words man Willy is gone

What are two similarities and two differences to water pollution and air pollution?

5. All of the following are true statements about theme, except: An author often composes an entire story to convey a single theme. Theme reveals the author's a

What statements describe conservation of energy? please help, its science Select all that apply. Energy cannot be destroyed. 1. Energy cannot change forms. 2.

What is the most common cause of osteoarthritis