panesmariel1110 panesmariel1110

11-11-2021
Mathematics

contestada

enumerate all the given.

if 15,000 pesos is deposited in an account that pays 5% compounded annually, How much will be in the account after 8 years?

Respuesta :

mhanifa mhanifa

11-11-2021

Answer:

22161.83 pesos

Step-by-step explanation:

Given:

Deposit P = 15000
Rate of interest r = 5% = 0.05
Compound number n = 1
Time t = 8

Amount after 8 years:

A = P(1 + r)^t
A = 15000(1 + 0.05)^8 = 22161.83

Answer Link

Аноним Аноним

14-07-2022

Rate of interest=r=0.05

So

Amount

P(1+r)^t
15000(1+0.05)⁸
15000(1.05)⁸
22161.83 pesos

Answer Link

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