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

A 70.0-cm length of a cylindrical silver wire with a radius of 0.175 mm is extended horizontally between two leads. The potential at the left end of the wire is

What is the name of the german scientist that proposed the theory of continental drift

Health care spending in the United States is forecasted to be as much as $4.6 trillion in 2020, accounting for about $1 of every $5 in the economy. Curren

A horizontal spring-mass system has low friction, spring stiffness 205 N/m, and mass 0.6 kg. The system is released with an initial compression of the spring of

How long ago did the solar system form? a. 5 million years b. 5 billion years c. 5 trillion years

All forms of communication have a(n) __built into them,

Real-Time Data Analysis Exercise The following table contains some investment data from FRED* for the fourth quarter of 2017. Real-time data provided by Federal

5/4623 Please I need answers as soon

One of the student in your study group is struggling with the idea that mammals and vertebrates are separate designation.To illustrate the two term,you describe

Pls help me ASAP!!!!!!!