$MathMaster logo$

MathMaster

Home
general
elliot opened a savings account and deposited 5000 00 as principal the account earns 4 interest compounded annually how mu

Question

Elliot opened a savings account and deposited $5000.00 as principal. The account earns 4% interest, compounded annually. How much interest will he earn after 5 years? Round your answer to the nearest cent.

216

likes

1082 views

Answer to a math question Elliot opened a savings account and deposited $5000.00 as principal. The account earns 4% interest, compounded annually. How much interest will he earn after 5 years? Round your answer to the nearest cent.

$Expert avatar$

4.5

112 Answers

Interest will be : $1083.26

Frequently asked questions (FAQs)

What is the basis of vectors in a given space?

+

What is 6 multiplied by 9, divided by 3, with the result subtracted by 4, and finally added to 16?

+

What is the result of differentiating f(g(h(x))) using the chain rule, where f(x) = sin(x), g(x) = e^x, and h(x) = ln(x)?

+

New questions in Mathematics

I) Find the directional derivative of 𝑓(𝑥, 𝑦) = 𝑥 sin 𝑦 at (1,0) in the direction of the unit vector that make an angle of 𝜋/4 with positive 𝑥-axis.

If f(x) = 3x 2, what is the value of x so that f(x) = 11?

Determine the momentum of a 20 kg body traveling at 20 m/s.

Perpetual annuities are a series of payments whose duration has no end. Explain how can we calculate them, if they have no end?

reduce the expression (7.5x 12)÷0.3

The ninth term of a given geometric progression, with reason q , is 1792, and its fourth term is 56. Thus, calculate the fourth term of another geometric progression, whose ratio is q +1 and whose first term is equal to the first term of the first P.G. described.

Let v be the set of all ordered pairs of real numbers and consider the scalar addition and multiplication operations defined by: u+v=(x,y)+(s,t)=(x+s+1,y+t -two) au=a.(x,y)=(ax+a-1,ay-2a+2) It is known that this set with the operations defined above is a vector space. A) calculate u+v is au for u=(-2,3),v=(1,-2) and a=2 B) show that (0,0) #0 Suggestion find a vector W such that u+w=u C) who is the vector -u D) show that axiom A4 holds:-u+u=0

Determine the Linear function whose graph passes through the points (6, -2) and has slope 3.

Kaya deposits 25,000 into an account that earns 3% interest compounded monthly. How much does Kaya have in the account after 6 years 8 months? Round to the nearest cent. 32,912.50 30,000 29,923.71 30,527.45

In poker, a full house consists of five cards, where two of the cards have the same number (or letter) and the remaining three also have the same number (or letter) as each other (but not as the previous two cards). Use a search engine or Wikipedia to understand the concept better if necessary. In how many different ways can one obtain a full house?

How much does 7.2 moles of ammonium dichromate weigh? (NH4)2Cr2O7

Paul invites 12 friends to his birthday. He wants to give 15 candies to everyone two. The candies are sold in packs of 25. How many should he buy? packages?

To apply a diagnostic test, in how many ways can 14 students be chosen out of 25? if the order does not matter