scarrkimlaMorv0i scarrkimlaMorv0i

30-01-2016
Mathematics

contestada

3000 in 5 years 4% interest compounded 4 times a year . How much money should Tracey deposit

Respuesta :

taskmasters taskmasters

30-01-2016

Tracy should deposit 1,369.86 to earn 3,000 in 5 years at 4% interest rate compounded 4 times a year

Given:
Compounded Interest = 3000
Term = 5 year
Frequency = 4 times a year
interest rate = 4%
Principal = unknown.

C.I = Principal × (1 + rate)^t
3000 = Principal × (1.04⁴)⁵
3000 = Principal × 1.17⁵
3000 = Principal x 2.19
3000/2.19 = Principal
1,369.86 = Principal

Answer Link

Otras preguntas

which one of the following is a marketed claim against the cash flows of a company

Creating a discrete probability distribution: A venture capitalist, willing to invest $1,000,000, has three investments to choose from. The first investment, a

On 20 very cold days, a farmer got her tractor started on the first, third, fifth, first, second, third, first, fifth, seventh, second, third, ninth, fifth, thi

a wheel has a constant angular acceleration of 5.0 rad. starting from rest, it turns through 300 rad. (a) what is its final angular velocity? (b)

because of the tennessee valley authority, the tennessee river became:

write a scheme function that takes two lists as a parameter and deletes instances of a list (the second parameter) from a list of lists For example, (deleteList

Two bonds have par values of $1,000. One is a 4.5%, 16-year bond priced to yield 8.0%. The other is a(n) 9%, 21-year bond priced to yield 4.5%. Which of these t

A student was asked to find a 98% confidence interval for widget width using data from a random sample of size n = 21. Which of the following is a correct inter

methamphetamine use is estimated to cost about how many dollars per year

3. Answer the following questions about your own experience in the labor force a. When you or one of your friends is looking for a part-time job, how many weeks