Tuesday

March 31, 2015

March 31, 2015

Posted by **mary** on Wednesday, July 18, 2012 at 1:23am.

a. How much will you have in the account in 25 years?

b. How much interest will you earn?

- maths -
**Henry**, Thursday, July 19, 2012 at 4:24pma. P = Po(1+r)^n.

Po = $10,000.

r = (4%/12) / 100% = 0.0033333 = Monthly

% rate expressed as a decimal.

n = 12Comp./yr * 25yrs = 300 Compounding

periods.

Plug the above values into the given

Eq.

Answer: P = $27,137.65.

b. I = P - Po

**Answer this Question**

**Related Questions**

math - you deposit $10000 in an account earning 4% interest compounded monthly. ...

maths - You deposit $1000 each year into an account earning 8% compounded ...

algebra - 1. Suppose Mary deposits $200 at the end of each month for 30 years ...

Math - Please check my work, thank you If $7,800 is deposited into an account ...

Lat math question for some days. Can y'all help? - Huan deposited $850 into a ...

maths - How much money will I need to have at retirement so I can withdraw $60,...

math - Huan deposited $850 into a collegesavings account earning 4.8% ...

MATH HELP! Complex Interest - Huan deposited $850 into a collegesavings account ...

Math - (a) Themba wants to deposit a sum of money into a savings account so that...

maths - Tamara invests $30,000 in an account earning 7% interest per year over ...