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

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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) About Me  (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.