Seudónimo Seudónimo
  • 18-04-2021
  • Mathematics
contestada

5,000 is invested at an interest rate of 8% compounded annually. how much is the investment return after 20 years?​

Respuesta :

tj4edema tj4edema
  • 18-04-2021

Step-by-step explanation:

5k×8×20

_______ =800

100

Answer Link
jimrgrant1 jimrgrant1
  • 18-04-2021

Answer:

≈ 23305

Step-by-step explanation:

The amount A is calculated as

A = P [tex](1+r)^{t}[/tex]

P is the principal

r is the interest rate

t is the time in years

A = 5000 [tex](1+0.08)^{20}[/tex]

   = 5000 [tex](1.08)^{20}[/tex]

   ≈ 23305 ( to the nearest whole number )

Answer Link

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