anonymous
  • anonymous
You want to deposit $12,000 in a bank at an interest rate of 8 percent per year. What is the future value of this money after five years?
Mathematics
  • Stacey Warren - Expert brainly.com
Hey! We 've verified this expert answer for you, click below to unlock the details :)
SOLVED
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.
katieb
  • katieb
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
Directrix
  • Directrix
Is the interest compounded continuously or some other way?
anonymous
  • anonymous
what
Directrix
  • Directrix
What formula are you supposed to use to compute the future value of the money?

Looking for something else?

Not the answer you are looking for? Search for more explanations.

More answers

anonymous
  • anonymous
oh ok
anonymous
  • anonymous
Call a i deposit on a monthly x is the interest rate n is the number of months post we have After January, the amount of a + ax = a (x + 1) fra In early February: a×(x+1)+a=a×(x+1+1)=(ax)[(1+x)2−1] After February: (ax)[(1+x)2−1]+(ax)[(1+x)2−1]x=(ax)[(1+x)2−1]x=(ax)[(1+x)2−1]((x+1)) ...... After n months, the amount of principal and interest are: (ax)(x+1)[(1+x)n−1] Applying the formula, instead of on and

Looking for something else?

Not the answer you are looking for? Search for more explanations.