An investment of $2500 is put into a bank that has an annual rate of 6% compounded
monthly. Find the balance after 20 years

$8017.84

Step-by-step explanation:

Because it is compounded annually, you have to use the formula

A= P(1+r)^t

(A is the future balance after t years, r is the % rate as a decimal, P is the starting amount -- the principal.)

So,

A = 2500(1 + 0.06)^20  (First, add inside the parentheses)

A = 2500(1.06)^20 (Then, do the exponent and the multiplication with a calculator)

A = 8017.84

he will have 300 because he is really broke and 300 is in his imangine

step-by-step explanation: he ehe heh step by the thy

1. 3.4/4

2. 0.8/7

3. 0.5 x 3

4. 0.9 x 6

5. 10.8

6. 2.35

7. 0.567

8. 9.35

9. 0.02

10. 0.06

11. 0.16

12. 0.42

13. 0.63

14. 5.6

15. 8.1

16. 9.9

17. 0.28

18. 0.48

19. 0.27

20. 0.49

21. 0.45

22. 0.72

23. 0.9

24. 0.88

25. 0.75

26. 0.16

27. 0.328

28. 0.495

29. 0.72

30. 1.068