Thomas opened a savings account with an annual interest rate of 7% and an initial deposit of $5000. If his interest is compounded quarterly, how much is in Thomas's account after 4 years? Round your answer to the nearest cent.
interest compounded quarterly: A = P (1+r/4)
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Thomas opened a savings account with an annual interest rate of 7% and an initial deposit of $5000. If his interest is compounded ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Abby buys 4 pencils and 2 erasers for $3.58. Micheal buys 1 pencil and 6 erasers for $2.49 what is the cost of 1 pencil and 1 eraser?
Answers (1)
Hal is mixing bug spray for his roses. He has one gallon with a mixture of 90% water and 10% chemical. However, he needs a mixture that is 96.5% water. How much water should be added to the mixture to make it 96.5% water?
Answers (1)
On Wednesday afternoons, eight men play tennis on two courts. They know ahead of time which four will play on the north court and which four will play on the south court. The players arrive randomly at the tennis courts.
Answers (1)
Complete this 5x^2+16x+11
Answers (2)
Briana bought 3 bottles of ketchup and 2 bottles of mustard and for $11.85. Logan bought 2 bottles of ketchup and 5 bottles of mustard for $13.73. Find the cost of each.
Answers (1)
New Questions in Mathematics
2 (-1-1) - (-1+5) - 7 (2 (-1) - 1)
Answers (2)
There are a total of 20 lions, tigers and bears. If the number of tigers is 2 more than the number of lions and the number of bears is 1 more than the number of tigers, find the number of each.
Answers (1)
Is it possible to carry a 9 foot piece of lumber in an enclosed rectangular trailer that is 4 feet by 8 feet by 4 feet?
Answers (1)
Find the next term of given sequence. 11, 37, 127, 445, 1591, ...
Answers (1)
Larry bought 2⁄3 pound of red potatoes and 3⁄4 pound of golden potatoes. How many pounds of potatoes did he buy in all?
Answers (1)