Mathematics, 11.11.2019 02:31 karose4590

Find the accumulated amount a, if the principal p is invested at an interest rate of r per year for t years. (round answer to the nearest )

p = $180,000, r = 8%, t = 7,
compounded monthly

Answers

Answer from: THEOUTCOMER

$\$314,535,97$

Step-by-step explanation:

we know that

The compound interest formula is equal to

$A=P(1+\frac{r}{n})^{nt}$

where

A is the Final Investment Value

P is the Principal amount of money to be invested

r is the rate of interest in decimal

t is Number of Time Periods

n is the number of times interest is compounded per year

in this problem we have

$t=7\ years\\ P=\$180,000\\ r=8\%=8/100=0.08\\n=12$

substitute in the formula above

$A=180,000(1+\frac{0.08}{12})^{12*7}$

$A=180,000(\frac{12.08}{12})^{84}$

$A=\$314,535,97$

Answer from: Quest

It is an outlier because idk sorry

Answer from: Quest

The answer for you question is b
Shanti is making a patchwork quilt. each piece of fabric has a black star on it. she uses the grid s

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Find the accumulated amount a, if the principal p is invested at an interest rate of r per year for...