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.

$Expert avatar$

Santino

4.5

112 Answers

Interest will be : $1083.26

Frequently asked questions (FAQs)

What are the characteristics of the circle function with equation x^2 + y^2 = r^2? Provide a detailed explanation including its center, radius, and properties related to symmetry, intercepts, and graph shape.

What is the radian measure of an angle that is equivalent to three full rotations?

What is the approximate value of the square root of 187?

New questions in Mathematics

𝑦 = ( 𝑥2 − 3) (𝑥3 + 2 𝑥 + 1)

5(4x+3)=75

A hotel in the Algarve had to offer 1 week of vacation to one of its employees as an Easter gift in a random choice. It is known that 80 people work in this hotel, 41 of whom are Portuguese and 39 are foreign nationals. There are 14 Portuguese men and 23 foreign women. Using what you know about conditional probability, check the probability that the gift was offered to a Portuguese citizen, knowing that it was a woman.

Imagine that you are in an electronics store and you want to calculate the final price of a product after applying a discount. The product you are interested in has an original price of $1000 MN, but, for today, the store offers a 25% discount on all its products. Develop an algorithm that allows you to calculate the final price you will pay, but first point out the elements.

The director of a company must transfer 6 people from the human resources department to the sales department, in order to sustain sales during the month of December. What is the probability that he will transfer only 2 of them?

9b^2-6b-5

A construction company is working on two projects: house construction and building construction. Each house requires 4 weeks of work and produces a profit of $50,000. Each building requires 8 weeks of work and produces a profit of $100,000. The company has a total of 24 work weeks available. Furthermore, it is known that at least 2 houses and at least 1 building must be built to meet the demand. The company wants to maximize its profits and needs to determine how many houses and buildings it should build to meet demand and maximize profits, given time and demand constraints.

Find the equation of the line perpendicular to −5𝑥−3𝑦+5=0 passing through the point (0,−2)

A force of 750 pounds compresses a spring 3 inches from its natural length, which is 15 inches. What will be the work done to compress it 3 inches more?

15/5+7-5

v Is the following statement a biconditional? If Shannon is watching a Tigers game, then it is on television.

Task 1 angel has 3 quarters 3/8 of a tank of gasoline and Miguel 7/8, who has more gasoline? number line on number line

It is known that the content of milk that is actually in a bag distributes normally with an average of 900 grams and variance 25 square grams. Suppose that the cost in pesos of a bag of milk is given by 𝐶(𝑥) = { 3800 𝑠𝑖 𝑥 ≤ 890 4500 𝑠𝑖 𝑥 > 890 Find the expected cost.

Determine the reduced form of the slope equation equal to 2

Determine a general formula (or formulas) for the solution to the following equation. Then, determine the specific solutions (if any) on the interval [0,2π). cos30=0

The grading on a $159,775 house comes to $3974.75. What percent of the total cost is this? (Express your answer to the nearest hundredth percent.)

Build a truth table for the statement ~(pvq)^~p

A property sold for $745,000 in a co-brokered transaction. The seller has agreed to pay a 7% commission to the listing firm. The listing firm has agreed to equally split the commission with the selling firm. If the buyer’s broker will receive 8% of the selling firm’s commission, how much commission will the buyer’s broker receive? $14,900 $3725 $$37250 $18625

How many moles are there in 235 grams of potassium thiosulfate pentahydrate? K2S2O3*5(H2O)

56 × 12 = 672. How should you adjust this answer 672 to determine 57 × 12? a) The answer increases by 1 b) The answer increases by 57 c) The answer increases by 56 d) The answer increases by 12

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.

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.

You might be interested in