Problem

QUESTION 6
Solve the problem. Round your answer to the nearest cent.
Brad invests $$ 5700$ in an account paying $10 %$ compounded monthly. How much is in the account after 15 months?
$$ 6421.19$
$$ 5759.44$
$$ 6455.60$
$$ 23, 810.31$

Answer

Expert–verified

Hide Steps

Answer

A = $ 6455.60

Steps

Step 1 ：A = P(1 + \frac{r}{n})^{nt}

Step 2 ：A = 5700(1 + \frac{0.1}{12})^{12*{15}/{12}}

Step 3 ：A = $ 6455.60

link_gpt

Popular Problems

Compute $\int_{0}^{\ln (2) / … Solve the triangle. \[ \mathr… QUESTION 2 - 1 POINT Solve th… 5. Suppose you are a computer… Answer the statistical measur… $(-\infty, 2) \cap(-6, \infty… A firm does not pay a dividen… Math 112 Section: 4. Tubercul… Find

y^{'}

if $y=\ln \… 3. (3pts) Cherry trees in a c… More