WebJun 21, 2024 · Cynthia invests some money in a bank which pays 5% compound interest per year. she wants it to be worth over £8000 at the end of 3 years. what is the... Answer Chemistry, 26.01.2024 23:31 Answer Mathematics, 26.01.2024 23:31 Answer English, 26.01.2024 23:31 Answer Mathematics, 26.01.2024 23:31 Answer WebJun 21, 2024 · Correct answer - Cynthia invests some money in a bank which pays 5% compound interest per year. She wants it to be worth over £8000 at the end of 3 yea
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WebCynthia invests some money in a bank which pays 5% compound interest per year. She wants it to be worth over £8000 at the end of Home / Maths / Cynthia invests some money in a bank which pays 5% compound interest per year. WebSuppose that we deposit $1000 in a bank account offering 3% interest, compounded monthly. How will our money grow? The 3% interest is an annual percentage rate (APR) – the total interest to be paid during the year. Since interest is being paid monthly, each month, we will earn [latex]\frac{3%}{12}[/latex]= 0.25% per month. In the first month, hope economic cycle
SOLVED: Cynthia invests some money in a bank which pays 5
WebAug 26, 2024 · Cynthia invests some money in a bank which pays 5% compound interest per year she wants it to be over 8000 at the end of three years what is the smallest amount to the nearest pound she can invest. Answer by Guest. Answer: The smallest amount to the nearest pound she can invest is £6,911. WebMay 1, 2024 · The money you put in the bank is called the principal, P, and the bank pays you interest, I. The interest is computed as a certain percent of the principal; called the rate of interest, r. The rate of interest is usually expressed as a percent per year, and is calculated by using the decimal equivalent of the percent. WebCynthia invests some money in a bank which pays 5% comp Q:20. Which of the following statements provides the most accurate reading of note 3 ? (A) Donald Robertson taught at Yale Q:I need a essay on weight management strategies. This is a paded discmilers: 50 points possible (10] Discussion Board: YW long nose from one piece