flamingowhis flamingowhis

13-02-2021
Mathematics

contestada

$325 is borrowed from a bank that charges 4% interest compounded annually. How much is owed after 1 year, 3
years, 7 years, and 20 years?

Respuesta :

madethisfortwitch1 madethisfortwitch1

13-02-2021

Answer:

338

365.58

427.68

712.12

Step-by-step explanation:

for annually compounding interest

PV(1+i)^n

for one year

325(1.04)

338

for 3 years

325(1.04)^3

365.58

For 7 years

325(1.04)^7

427.68

for 20 years

325(1.04)^20

712.12

Answer Link

Otras preguntas

The height of a flagpole is 8.5 meters tall. If the length of the meter stick shadow is 1.5 meters long, what would be the length of the flagpole’s shadow?

i need your help.... explain the effect humans have had on Espanola's giant tortoise populaition.HELP>>>>>>>

how many major climate types are there,worldwide

Rewrite this passage using synonyms for the repeated word. I went to the park.I went on the swings and had fun.I went on the slide and had fun.It was nice whe

Cuneiform was a writing system developed by the _____.

If you went door-to-door with a petition trying to get enough signatures for a proposal to be voted on by citizens, what form of direct democracy would you be e

Jordan is doing a science fair project on the effect of music on the growth of tomatoes. He has two tomatoe plants,plant A and plant B, that he grows in a windo

How did the policy of appeasement work in Hitler's favor?

How do you write 23-100 in simplest form

What is 110% as a decimal