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anonymous
 5 years ago
Calculate the total amount in an account if you invest $5ooo for the course of 10 years. Compounded monthly paying 5% annually
anonymous
 5 years ago
Calculate the total amount in an account if you invest $5ooo for the course of 10 years. Compounded monthly paying 5% annually

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anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0use compound interest formula.

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0it is compounded monthly, so it is compounded 12 times a year, which means it is compounded 120 times totally.

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0I miss monthly than A=5000(1+0.05/12)^(10*12)

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0so I have 1.00416666 to the 120th power and then I multyiply that answer by 5000?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0you are welcome. you should get 8235.5 or something.

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0ok, finally got the same thing, calc. kept fading out...

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0oh. you seem to be on the internet. copy 5000(1+0.05/12)^(10*12) and paste it in google and press enter. google has a builtin calculator.

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0oh, thanks, didn't know about that!

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0you're welcome. next time charge runs out in calculator, there is always google, and wolfram alpha.
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