kriton23 kriton23
  • 04-05-2020
  • Mathematics
contestada

Abigail is going to invest $98,000 and leave it in an account for 5 years. Assuming the interest is compounded annually, what interest rate, to the nearest tenth of a percent, would be required in order for Abigail to end up with $133,000?

Respuesta :

bacarey1550
bacarey1550 bacarey1550
  • 04-05-2020

A = P(1+r/n)^(nt)

133,000 = 98,000(1+x/1)^(1(5))

1.36 = (1+x)^5

1.063 = 1+x

x = .063 or 6.3%

Answer Link

Otras preguntas

which city has a humid tropical climate
Which might cause someone to retaliate. Losing a point in a game because of a foul or getting well deserved award?
What happens to the sodium an potassium when the neurons are stimulated
Which law defines hours worked? national labor relations act davis-bacon act equal pay act portal-to-portal act?
Please identify the irony and explain it
Fill in the blanks with the Present Progressive form of verbs from the list. Use each verb only once. buscar dormir llevar pedir tomar viajar -El huésped
Please answer this, thanks.
When manually handling materials it is necessary to seek help for all of the following except?
brad took 5 kicks and made 4 goals: 4/5. Sydney will take 10 shots and she wants to make an equivalent fraction of the goals. how many goals must she make?
can you tell me if this is right