Algebra question "I'm lost"

Algebra
Tutor: None Selected Time limit: 1 Day

Suppose that $8500 is placed in an account that pays 19%  interest compounded each year. Assume that no withdrawals are made from the account. Do not do any rounding.

(a) Find the amount in the account at the end of 1 year?

(b) Find the amount in the account at the end of 2 year?

Aug 30th, 2015

Thank you for the opportunity to help you with your question!

A = P(1+r)^t

 a) P = 8500 , r = 19%  or 0.19   t = 1

substituting we get A = 8500 *(1+0.19)^1 = 8500*1.19 = 10115  (answer)

b) P = 8500 , r = 19%  or 0.19  t = 2

substituting we get A = 8500 *(1+0.19)^2 = 8500*1.19^2  = 8500*1.4161 = 12036.85  (answer)

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Dear Student : I would be glad to complete your online assignments/classes of math, physics, mechanics, statistics, calculus etc. Inbox me if you are interested !!! I always deliver quality work in time.
Aug 30th, 2015

thanks

Aug 30th, 2015

I have another one for you if you can help

Aug 30th, 2015

Ryan deposited $4000 into an account with 2.1%interest, compounded semiannually. Assuming that no withdrawals are made, how much will he have in the account after 3 years? Do not round any intermediate computations, and round your answer to the nearest cent.

Aug 30th, 2015

I came up with a=4258.70834237

final: 4258.71

Aug 30th, 2015

Semiannually mean rate will become half and time will be double 

answer 4000*(1+0.0105)^6 =  4258.7083   rounded and hence 4258.71 Answer


you may give me chance to complete your online assignements

Aug 30th, 2015

please go through my completed works at

https://drive.google.com/folderview?id=0B-AJVoghTb_mfjRIUjNXaHBPa0pLR0lGT1NNQjdjTTNnRmJjT254Q0FKMGJ2WDlvRHVhWTQ&usp=sharing

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Aug 30th, 2015

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