The product of an initial investment, I, and the quantity of the sum of 1 and the annual interest rate, r, raised to the power of n, the number of years of the investment, is equal to M, the current amount of money in an investment account. If an initial investment of $1,423.00 is made to an account with an annual interest rate of 2%, what will be the value of M after 3 years? Round to the nearest cent. A. $1,510.10 B. $1,339.32 C. $1,480.49 D. $1,508.38
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The product of an initial investment, I, and the quantity of the sum of 1 and the annual interest rate, r, raised to the power of n, the ...” 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
During the summer Brianna works at a coffee shop she saves 75% of her earnings to buy new school clothes if Brianna and $750 what is the best estimate for the amount of money she saves to buy clothes A. 100 B. 150 C. 300 D. 550
Answers (1)
Ramón says he can use the commutative property of multiplication to show the product of 4 x 6 is the same as the product of 3 x 8. Is he correct? why or why not?
Answers (2)
Teddy called the movie theater to find out how much tickets cost for him and his seven friends to go to the new hero movie. He remembered that the total was $60 if they go to the early movie but not how much each ticket is.
Answers (1)
For his chemistry experiment, Martin needs 3 liters of a 40% alcohol solution. The lab has two containers, one with 20% alcohol solution and the other with 50% alcohol solution. a.
Answers (2)
Devon wants to memorize 1/2 of his lines for a play by the end of the week. He has already memorized 1/8 of his lines. what fraction of his lines does he still have left to memorize? Draw a visual model to support answer
Answers (1)
New Questions in Mathematics
roadway signs are used to warn drivers of an upcoming steep down grade that could lead to a dangerous situation. If the grade shown in the sign is 8%, what is the slope?
Answers (1)
Complete the following sentence: Two events that are mutually exclusive ...
Answers (1)
What is the volume of this right rectangular prism. 7 feet length 2 feet width and 3.5 feet Height
Answers (1)
A printer can print at a rate of 48 copies per minute. Find the time taken for the printer to print 656 copies. Give your answer in minutes and seconds.
Answers (1)
Find the prime factorization of each number 891
Answers (1)