Bob makes monthly deposits of $50 into a savings account that pays 5% interest, compounded monthly. How much will he have in his account at the end of 5 years?
a. $3,400.30
b. $3,150.00
c. $3,003.00
d. $3,833.58
a. $3,400.30
Bob will have $3,400.30 in his account at the end of 5 years if he earns 5% interest compounded monthly and saves $50 per month.
You might also like to view...
Solve the system of equations graphically using a graphing calculator. Find all values to the nearest tenth.y = x2 + 32y = -5x + 6
A. x = 3.0, y = -4.5 B. No solution C. x = 3.0, y = -4.5; x = -8.0, y = 23.0 D. x = -2.5, y = 9.25; x = 0, y = 3
Write the complex number in trigonometric form, using degree measure for the argument.-2
+ 2i
A. 4(cos(-45°) + i sin(-45°)) B. 4(cos 135° + i sin 135°) C. 4(cos(-135°) + i sin(-135°)) D. 4(cos 45° + i sin 45°)
Give two parametric representations for the plane curve.x = 
, y ? -3
What will be an ideal response?
Find the variation equation for the variation statement.c varies directly as a and inversely as b; c = 5 when a = 65 and b = 117
A. c = 9ab
B. c = 
C. c = 
D. c = 