Thomas opened a savings account with an annual interest rate of 7% and an initial deposit of $5000. If his interest is compounded quarterly, how much is in Thomas's account after 4 years? Round your answer to the nearest cent.
interest compounded quarterly: A = P (1+r/4)
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Thomas opened a savings account with an annual interest rate of 7% and an initial deposit of $5000. If his interest is compounded ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
3=-6x+15 what is this?
Answers (2)
Factor each expression. A. 9+21 B. 14+28 C. 80 + 56
Answers (1)
Triangle P is similar to triangle Q. triangle P has two angle with measures of 41degress and 82 degrees. which two angle measures could be included in triangle Q?
Answers (1)
What is the answer to 6 more than the product of five and a number decreased by one
Answers (1)
How do you solve |2x-5|=4.
Answers (1)
New Questions in Mathematics
5/4 in to a decimal
Answers (1)
For what value of b does (1/12) ^2b x 12^-2b+2=12 -1/2 -1/4 1/4 no solution
Answers (1)
Suppose you have lunch with four friends and the total check (with tax and tip) is $155. How much should you each pay if you split the check evenly?
Answers (1)
150 of 300 students at smith middle school are in band. of those only 10% play saxophone. next year enrollment is expected to reach 400 students. About how many of those students will play saxophone?
Answers (1)
Julie and Jim live 230 miles apart. At the same time, they start driving toward each other on the same road. Julie's constant rate is 60 mph and Jim's constant speed is 55 mph. How many hours will it take them to meet?
Answers (1)