SOLUTION: determine the final amount from the investment each situation intial amonut annual intrest rate time type of compounding $500 5.75%

Algebra.Com
Question 138252This question is from textbook algebra 1 glencoe
: determine the final amount from the investment each situation
intial amonut annual intrest rate time type of compounding
$500 5.75% 25 years monthly
This question is from textbook algebra 1 glencoe

Answer by checkley77(12844)   (Show Source): You can put this solution on YOUR website!
p(1+r/n)^a*n p=principle, r=rate, n=nummber of periods in year, a= number of years.
500(1+.0575/12)^25*12
500(1+.00479)^300
500(1.00479)^300
500*4.19364=$2,096.82 final amount.

RELATED QUESTIONS

Find the annual intrest rate Principal=$5000 Balance=$15,399.30 Time=15 years... (answered by stanbon)
An initial deposit of $36,000 grows at an annual rate of 8% for 24 years. Compare the... (answered by Theo)
find the annual intrest rate if an investment of $4000 earns $75 in intrest over 3... (answered by ewatrrr)
I cant seem to find the right answer. If $5000 is invested at an interest rate of 3%... (answered by solver91311)
$500 is placed in a savings account with an annual interest rate of 2.5%. What is the... (answered by rfer)
An initial deposit of $38,000 grows at an annual rate of 6% for 20 years. Compare the... (answered by rfer)
An amount of Rs. 65000 is invested in three investments at the rate of 6%, 8% and 9% per... (answered by Theo)
A total of $18,000 is invested in two simple intrest accounts. On one of the accounts... (answered by checkley71)
Kevin earned $165 intrest for 1 year on an investment of $1500.00. At the same rate, what (answered by josmiceli)