An investment of $8,350 earns 5.2% interest compounded monthly over 10 years. Approximately how much interest is earned on the investment?

Question

03-05-2017
Mathematics

contestada

An investment of $8,350 earns 5.2% interest compounded monthly over 10 years. Approximately how much interest is earned on the investment?

Respuesta :

Otras preguntas

PLEASE HELP ASAP!!! I NEED CORRECT ANSWERS ONLY PLEASE!!! Find EF. Write your answer as an integer or as a decimal rounded to the nearest tenth. EF =

What was the turning point in Native American/Puritan relations?

What’s the measure of A

What is the gig economy?

PLEASE HELP ASAP!!! I NEED CORRECT ANSWERS ONLY PLEASE!!! Find the cosine of ∠V. Write your answer as an integer or as a decimal rounded to the nearest hundredt

Why do people "on both sides rush to join the fight"? (In WW1)

if $350 is placed in a savings account that earns 3.5% interest applied once a year, and how much would a savings account be worth after 10 years? 1) $522.882)

Which statement BEST concludes this paragraph?

what is the process by which a species becomes better suited in its environment?

wolf1728 wolf1728 · Answer 1 · 2017-05-07T06:36:38+02:00

wolf1728 wolf1728

07-05-2017

Total = Principal * (1 + rate/n)^years*n
where n is the number of compounding periods per year
Total = 8,350 * (1 + .052 / 12)^120
Total = 8,350 * (1.0043333333)^120
Total = 8,350 * 1.6801390765
Total = 14,029.16

Answer Link

alexismills83 alexismills83 · Answer 2 · 2021-11-09T14:23:58+01:00

alexismills83 alexismills83

09-11-2021

Answer:

c

Step-by-step explanation:

Answer Link