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
The picture frame given below has outer dimensions of 8 in by 10 in and inner dimensions of 6 in by 8 in. Find the area of section A of the frame. a. 18 in 2 b. 14 in 2

GENERAL RULE A general rule is to subtract the probabilities with an even number of components inside the parentheses and add those with an odd number of components (one or th

Problem 1. Find the maximum and the minimum distance from the origin to the ellipse x 2 + xy + y 2 = 3. Hints: (i) Use x 2 + y 2 as your objective function; (ii) You c

Ask question #Minimum 100 words accepted

1. Let R and S be relations on a set A. For each statement, conclude whether it is true or false. In each case, provide a proof or a counterexample, whichever applies. (a) If R

vwertical and horizontal

Let Xn be a sequence of distinct real numbers. Defi ne E = {L : L is a subsequential limit of Xn}. Prove E is closed.

Derive the probability distribution of the completion times: a. The following probability distributions relate to the completion times, in weeks, T A and T B of two independ


the wholesale p of string beans in dollars per bushel and the daily supply x in thousands of bushel,are related by the equation px+6x+7p=5950. if the supply is decreasing at the r