what amount needs to be invested today at 6% simple interest in order to have $4000 in 2 years?

Question

16-02-2017
Business

contestada

what amount needs to be invested today at 6% simple interest in order to have $4000 in 2 years?

Respuesta :

Otras preguntas

The Scarlet Ibis" by James Hurst Explain what the symbol stands for--it is more than just a thing or a color. It means more to the characters and the story. Rem

20 pts!!! What are the missing coefficients needed to make this equation balanced from left to right? A 1, 2, 3 B 1, 2, 2 C 2, 4, 3 D 2, 1, 2

Identify the reactants in this chemical equation below

The incident and refracted angles of a recangular glass block are 30 and 60 respectively. Caculate the velocity of light in the glass, if that of the air is 29

24 as a percentage and 17 as a percent

10 May 2024 classwork (Activity) to Your parents have been invited to school discuss your Performance in the mid-year examination, write two diary entries in wh

Choose the sentence that is NOT simple, compound, or complex.A. The rider brought his horse.B. The rider brought his horse, and his hand brought the equipment.C

Archean is the “Age of the _____”.

Gavin uses 580 kWh of electricity. How much will his electricity bill come to?

dexteright02 dexteright02 · Answer 1 · 2017-02-16T02:15:44+01:00

dexteright02 dexteright02

16-02-2017

Data:
A (amount) = ?
P (Principal) = $ 4000
r (rate) = 6% → 0.06
t (time) = 2 years

Formula:
[tex]A = P(1+r*t)[/tex]

Solving:
[tex]A = P(1+r*t)[/tex]
[tex]A = 4000(1+0.06*2)[/tex]
[tex]A = 4000(1+0.12)[/tex]
[tex]A = 4000*1.12[/tex]
[tex]\boxed{\boxed{A = \$\:4480}}\end{array}}\qquad\quad\checkmark[/tex]

Answer Link