Michelle invested $10,000 in an account that earns 8.5% interest that is compounded monthly. Determine the amount of money in the account in 15 years

Answers

Answer 1

Given:

The principal value = $10,000

Rate of interest = 8.5% compounded monthly.

To find:

The amount of money in the account in 15 years.

Solution:

The formula for amount is:

[tex]A=P\left(1+\dfrac{r}{n}\right)^{nt}[/tex]

Where, P is principal, r is the rate of interest in decimal, n is the number of times interest compounded in an year, t is the number of years.

Number of months in an year is 12. So, n=12.

Substitute [tex]P=10000, r=0.085, n=12, t=15[/tex] in the above formula.

[tex]A=10000\left(1+\dfrac{0.085}{12}\right)^{12(15)}[/tex]

[tex]A=10000\left(\dfrac{12.085}{12}\right)^{180}[/tex]

[tex]A=35626.53335[/tex]

[tex]A\approx 35626.53[/tex]

Therefore, the amount of money in the account in 15 years is $35626.53.


Related Questions


[tex] \sqrt{9 {}^{4} } [/tex]

Answers

Answer:

81 is your answer

Step-by-step explanation:

[tex]\sqrt{9^4}[/tex]

[tex]\sqrt{9^2}[/tex]

[tex]= 81[/tex]

Hope it helps..

Have a great day

Answer:

your answer will be 81

Step-by-step explanation:

Thanks for the points

have a nice day!!

Evaluate the expression below when x = 4, y = 5

3(y-x) + 4y

Answers

Answer:

23

Step-by-step explanation:

Brackets go first, 5 (y) - 4 (x) = 1. Now, 3 x 1 = 3, you do this because of the 3 next to the brackets. Now add them together.

fill in the blank 3(2+7a)=6+

Answers

Answer:

[tex]3(2+7a)=6+[/tex]

[tex]6 + 21a = 6[/tex]

[tex]21a + 6 = 6 + 21a[/tex]

answer is 21a

let me know if this is 160 sheeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeesh this food bussin bussin

Answers

Answer:

32 ounces a day

160 ounces in 5 days

Step-by-step explanation:

have a good day! :)

Answer:

yes 160 would me the correct answer

Step-by-step explanation:

2 multiplyed by 5 = 10

then 10 mutipyed by 16 = 160

Can someone pls help me with: Ooh
Okay
(Baby Ruth, Baby Ruth)
They always say "Ooh, Baby Ruth" (haha)
How you get your eyes so baby blue? (Blue, blue)
(Get it, bro)
"All he does is clout chase" (mm-hmm)
Yeah, b!ch, it's my mf name (uh-oh)
News flash, you'll never be me (uh-huh)
Me and Claire are like Mike (yup)
Pippen (yup), 3 PEAT
Venmo me
Venmo me
Venmo me
B!ch, I said "Venmo me, Venmo me" (Venmo me)
I'm livin' in your head rent free, b!ch
Fug Noah Miller, tryna be me (get it sis)
I-I-I'm just a kid, b!ch, I'm only 15 (hey)
I said "Best friend, put me on that beat" (okay)
Now I'm here, put that chorus on repeat
Venmo me
Venmo me
Venmo me
If you say so then I'ma dance
Every time I throw it back, I take all you b!ches' mans (ahh)
I'ma pull up to the Hype House and Tony can catch these hands (hit that b!ch)
Did a little dance under the money tree
Don't forget the dance creds: yodelinghaley
That Yodel Girl, yeah, you know
Spittin' heat, need aloe
All you b!ches is slow and talking shii on the low
Body roll then I woah
Jahluver is emo
You got a problem with me? Then why don't you say so?
Okay, I don't know if you needed any of that
This was really embarrassing
Please never show...
Hey, guys, you forgot to invite me, again
Why didn't you guys invite me? Omg
You don't know what you just did
You could hurt... You decided... Find me...
Oh my god, you're gonna recruit...
You-you don't know what
You-you-you don't know f... ??

Answers

Answer:

Venmo mee

Step-by-step explanation:

pls show the process

Answers

Here is the on the only. Process

what is the gcf of 150 and 3

Answers

Answer:

3 is the answer

hope this helps

have a good day :)

Step-by-step explanation:

The scatter plot suggests a relationship between time and the distance from the destination. The equation of the line of best fit is y=-0.6x+15, and the correlation coefficient is -0.8. Which best describes the correlation between the two variables?

a. weak positive
b. strong positive
c. weak negative
d. strong negative

Answers

Answer:

Strong Negative

Step-by-step explanation:

We already know that the answer is between c and d because the correlation coefficient negative.

We just have to figure out whether it is strong or weak.

In general, anything between -.7 and -1 is considered to have a strong correlation. -.8 is in between -.7 and -1 therefore the correlation is best described as strong negative.

What is the mean of this data set?

Will give BRAINLIEST.

Answers

Answer: the mean is 5

Step-by-step explanation:

adding all the numbers together and dividing them by the numbers that were there gives you the mean :0

the mean is 5 there is a app called calculatornet.com that can also help you.

need ko po answer plssssss

Answers

It’s really blurry, I can’t help :(

A number c is more than 20 inequality PLEASE HELP NOW IT EASY

Answers

Answer:

c > 20

Step-by-step explanation:

a number c is MORE THAN 20

* replace MORE THAN with ">" *

c > 20

Note: > and "more than" have the same meaning, > is just expressed as an inequality

What expression is 16 times as large as 18,233- 4,006

Answers

Answer:

B

Step-by-step explanation:

16 times means multiply the expression by 16

state whether 0 is a rational number​

Answers

yes it is a rational number

What are two step equations that equal 17?

Answers

Answer:

5x+7=17

Step-by-step explanation:

5x+7=17

   -7    -7

----------------

5x=10

5      5

x=2

5(2)+7=17

10+7=17

17=17

The two step equations that equal 17 are:

1) 3x + 5 = 17

2) 2y - 8 = 17

The two examples of two-step equations that equal 17:

1) 3x + 5 = 17

To solve this equation, we subtract 5 from both sides:

3x + 5 - 5 = 17 - 5

3x = 12

Finally, we divide both sides by 3:

3x/3 = 12/3

x = 4

So the solution to the equation is x = 4.

2) 2y - 8 = 17

To solve this equation, we add 8 to both sides:

2y - 8 + 8 = 17 + 8

2y = 25

Next, we divide both sides by 2:

2y/2 = 25/2

y = 12.5

So, the solution to the equation is y = 12.5.

Learn more about Equation here:

https://brainly.com/question/29657983

#SPJ6

Is 13 the hypotenuse

Answers

Step-by-step explanation:

AC is not the hypotenuse. AB is the hypotenuse because its opposite the 90 deg angle

How much will it cost to paint the treasure chest below? A pint of paint can cover 5 ft2 and costs $4.50. You do not need to paint the bottom of the treasure chest.
please show work. its late for geometry and I really need to pass. i will mark brainliest :)

Answers

Answer:

I saw people trolling your answer here is the answer! I am sorry what people are doing to you!

There is a rectangle and a cylinder

5ft cost 4.50

Area is 643

Now

643x4.5

Answer:

Around 2893.5

On a standardized exam, the scores are normally distributed with a mean of 145 and a standard deviation of 25. Find the z-score of a person who scored 85 on the exam.

Answers

Answer:

Step-by-step explanation:

Answer:

-2.4

Step-by-step explanation:

Brainliest!!!!!marking<—

Answers

Answer:

I believe it would be (c)

Answer:

A

Step-by-step explanation:

Data collected for 300 fish for north atlantic. The length of the fish (in cm) is summarized in the histogram below.

Answers

Answer:

The lower class limit of the first class is 40

Step-by-step explanation:

Given

See attachment for histogram

Required

The lower limit of the first class

The attached histogram has overlapping interval, and the intervals are:

40 to 60, 60 to 80, 80 to 100, and so on....

The first class here is:

40 to 60

As a general rule; a class is represented by Lower Limit to Upper Limit.

So, by comparison.

Lower Limit = 40

Upper Limit - 60

what is the cube root of 8​

Answers

Answer:

its 2

Step-by-step explanation:

because 2*2*2 is 8

Answer the statistical measures and create a box and whiskers plot for the following set of data.
2, 4, 4, 6, 6, 6, 7, 9, 10, 13, 13, 13, 15



Min:

Q1:

Med:

Q3:

Max:

Answers

Answer:

Min:2

Q1:5

Med:7

Q3:13

Max:15

Step-by-step explanation:

Hope the picture helps. Not the best at drawing haha

| Juan wants to put carpeting in his living
room. The room is 15ft. by 13 ft. The
carpeting will cost $16.99 per square foot.
What is the cost of the carpeting? 2 steps
a) $195.00
b) $3,313.05
c) $2548.50
d) $3,300.00

Answers

Answer: a

Step-by-step explanation:

15.00x13.00=195

3x15.00=45.00

15x10.00=150.00

150.00+45.00=195.00

Y
समास
प्र.18 चौराहा की
4) व वा
तत्पुरु
अव्ययीभाव
) द्विग​

Answers

Answer:

Step-by-step-explination

Dave made two boxes. The sides of the second box are each of the sides of the first box How are the volumes of the two boxes related?​

Answers

Answer:

1/9

Step-by-step explanation:

I figured it out

For the past week, your restaurant revenue was $28,675 and your food cost was $9,274. Calculate your gråss margi

percentage (revenue - food cost)lrevenue). Remember to round to the nearest percent.

a) 63%

b) 68%

C) 73%

d) 78%

Answers

Answer: b) 68%

Step-by-step explanation:

Gross margin is used to calculate the amount left of revenue after the costs of goods sold is accounted for.

The formula is:

= (Revenue - Cost) / Revenue

= (28,675 - 9,274) / 28,675

= 0.67658

= 68%

What is the solution to the inequality? 2x-5<17

Answers

Answer:

[tex]x<11[/tex]

Step-by-step explanation:

Hi there!

[tex]2x-5<17[/tex]

Add 5 to both sides

[tex]2x-5+5<17+5\\2x<22[/tex]

Divide both sides by 2

[tex]\frac{2x}{2} < \frac{22}{2} \\x<11[/tex]

I hope this helps!

What is the value of the expression?
5 (3+4)
A 19
B) 35
C 12
D) 60

Answers

Answer:

B (35)

Step-by-step explanation:

5 * 3 = 15

5 * 4 = 20

20+15= 35

Answer:

B) 35

Step-by-step explanation:

Solve the equations inside the parenthesis first

so 3 + 4  = 7

now multiply 7 x 5 = 35

Find the distance between the points (1,8) and (9, 2).
Write your answer as a whole number or a fully simplified radical expression. Do not round.
units

Answers

Answer:

[tex]distance = \sqrt{(x_{1} -x_{2})^2+(y_{1} -y_{2})^2 }\\\\[/tex]

             [tex]=\sqrt{(9-1)^2+(2-8)^2 }\\\\=\sqrt{8^2 + 6^2}\\\\=\sqrt{64 +36 }\\\\=\sqrt{100} = 10units[/tex]

Please Help!! Thanks in advance!

Answers

Given:

The equation is:

[tex]\dfrac{y}{p-q}=\dfrac{y}{p+q}[/tex]

To find:

The value of y.

Solution:

We have,

[tex]\dfrac{y}{p-q}=\dfrac{y}{p+q}[/tex]

On cross multiplication, we get

[tex]y(p+q)=y(p-q)[/tex]

[tex]yp+yq=yp-yq[/tex]

[tex]yp+yq-yp+yq=0[/tex]

[tex]2yq=0[/tex]

Dividing both sides by 2q, we get

[tex]\dfrac{2yq}{2q}=\dfrac{0}{2q}[/tex]

[tex]y=0[/tex]

Therefore, the correct option is A.

You deposit $400in an account. The account earns $18 simple interest in 9 months. What is the annual interest rate?

Answers

Answer:

.5

Step-by-step explanation:

if you put 400 in an account and for nine months with 0.5 interest rate you would get 418.41 so 0.5 is the answer

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