Total accumulation of the amount deposited in saving account, Mathematics

A bank pays on its savings an interest rate of 6% per year but compounds interest monthly (i.e., estimates the interest each month and adds it to the balance).  You plan to deposit $100,000 into this saving account today.  Show the amount you will accumulate by the end of the 30th year.

ANSWER:

Posted Date: 2/28/2013 4:31:41 AM | Location : United States







Related Discussions:- Total accumulation of the amount deposited in saving account, Assignment Help, Ask Question on Total accumulation of the amount deposited in saving account, Get Answer, Expert's Help, Total accumulation of the amount deposited in saving account Discussions

Write discussion on Total accumulation of the amount deposited in saving account
Your posts are moderated
Related Questions
It is known that a radioactive material decays at a rate proportional to the amount present.If after a period of 12 years,a 2g piece of radium weighs 1.99g.How long will it be befo

Newton's Second Law of motion, which recall from the earlier section that can be written as: m(dv/dt) = F (t,v) Here F(t,v) is the sum of forces which act on the object and m

Evaluate following sin 2 ?/3   and sin (-2 ?/3) Solution: The first evaluation in this part uses the angle 2 ?/3.  It is not on our unit circle above, though notice that  2 ?/

Ms. Mehta teaches in a government primary school in Delhi. The children who come to her in Class 1 are familiar with a few numbers. At the beginning of the session, she asks the ch

Ask question what is half of 1 1/3 liquid measurements?

robin runs 5 kilometers around the campus in the same length of time as he can walk 3 kilometers from his house to school. If he runs 4 kilometers per hour faster than he walks, ho

Find out the area under the parametric curve given by the following parametric equations.  x = 6 (θ - sin θ) y = 6 (1 - cos θ) 0 ≤ θ ≤ 2Π Solution Firstly, notice th

x=±4, if -2 = y =0 x=±2, if -2 = y = 0


I gave my niece a whole heap of beads and showed her how to divide it up into sets of 10 beads each. Then I showed her how she could lay out each set of I0 beads in a line, and cal