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Sagot :
Answer:
11980
Step-by-step explanation:
This is simple interest.
We use the formula i=prt. Interest = price x rate x time
You just plug in your numbers, 10000 is your price, 5.5 years is the time, and 3.6% interest is rate.
Now our equation looks like this: i = 10000 x 5.5 x 0.036
(i converted the percent to a decimal)
So the interest is 1980, but the question asks for the final value, so we add the interest to the initial deposit, 1980 + 10000, and we get 11980 for our final value.
I apologize if my answer is wrong, but if it isn't I hope I helped :)
9514 1404 393
Answer:
$12,190
Step-by-step explanation:
The formula for the balance in an account where continuous compounding occurs is ...
A = Pe^(rt) . . . . where P is the principal invested at annual rate r for t years
A = $10,000e^(0.036·5.5) = $10,000e^0.198
A ≈ $12189.62 ≈ $12,190 . . . . rounded to the nearest dollar
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