justin1357911me justin1357911me
  • 04-05-2020
  • Business
contestada

Yao decides to place a $2,000 deposit at the end of each year into a bond fund that earns 6% annually. Find the amount of the investment in 20 years

Respuesta :

isaacoranseola
isaacoranseola isaacoranseola
  • 10-05-2020

Answer:

$6414.27

Explanation:

P= C ( 1+r )^t

Where C = $2000, r =6% and t = 20years

P = 2000 ( 1 + 6/100 )^20

P = 2000 ( 1+0.06 )^20

P = 2000 ( 1.06 )^20

P = 2000×3.20713

P = 6414.2709

P = $6414.27

Answer Link

Otras preguntas

having troubles with inequalities.. 3.8x + 14.5 < 32
what is the sum of 7/10 and 6/100
Explain what is the same about two fractions that are like fractions
which trinomial is equivalent to (3x-1)(x+4)
Explain what is the same about two fractions that are like fractions
which trinomial is equivalent to (3x-1)(x+4)
Explain what is the same about two fractions that are like fractions
what is the sum of 7/10 and 6/100
Explain what is the same about two fractions that are like fractions
having troubles with inequalities.. 3.8x + 14.5 < 32