Friday

December 19, 2014

December 19, 2014

Posted by **Sue Jackson** on Tuesday, August 28, 2012 at 6:11pm.

$4,000 at 12% for 30 years

(a) Calculate the future amount if the money were invested at simple interest.

(b) Calculate the future amount if the money were invested with annual compounding. (Round your answer to the nearest cent.)

- Algebra -
**Henry**, Thursday, August 30, 2012 at 11:38pma. A = Po + Po*rt.

A = 4000 + 4000*0.12*30 = $18,400.

b. A = Po(1+r))^30

A = 4000(1,12)^30 = $119,839.69

**Answer this Question**

**Related Questions**

Algebra - Compare the future amounts (A) you would have if the money were ...

algebra with application - $4,000 at 10% for 20 years (a) Calculate the future ...

Finance - $2,000 at 12% for 20 years (a) Calculate the future amount if the ...

Algebra - I invested $42,000 in three funds paying 5%, 7%, and 9% simple ...

algebra - Larry Mitchel invested part of his $32,000 advance at 7% annual simple...

algebra - A total of $12,000 is invested in two funds paying 9% and 11% simple ...

Math - melissa invested a some of money at 3% annual simple inter she invested ...

Algebra - Helen invested $14,000 in an account that pays 3% simple interest. How...

math - if $9,000 is to be invested, part at 13% and the rest at 8% simple ...

Math - An investment advisor invested a total of $12,000, part at 2.5% annual ...