Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. an account is opened with an initial deposit of $1

An account is opened with an initial deposit of $11000 and earns 3% interest compounded...

90.2K

Verified Solution

Question

Basic Math

image

An account is opened with an initial deposit of $11000 and earns 3% interest compounded monthly What will the account be worth in 5 years?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

3. Define and describe binary fission and draw a bacterial growth curve and describe each of...

Psychology
1.2K views

Define what is meant by both the central and peripheral routes to persuasion. Describe when people...

Advance Math
1.2K views

1a. Proof by induction: For every positive integer n, 1•3•5...(2n-1)=(2n)!/(2n•n!). Please explain what the exclamation mark means. Thank...

Physics
1.2K views

A body is just floating in a liquid their densities are equal If the body...

Basic Math
1.2K views

If f(x) = -2ex, find f(-2).Round your answer to the nearest hundredth, and if necessary,...

Calculus
1.2K views

1 Cars arrive at a one bay car wash facility where the interarrival time is...

Accounting
1.2K views

Barlow Company manufactures three products-A,...

Accounting
1.2K views

Given the following information, determine Bad Debt Expense and prepare the necessary adjusting entry: The...

Accounting
1.2K views

Product Cost Markup Percentage Crescent Lighting Inc. produces and sells lighting fixtures. An entry light...

Accounting
1.2K views

On January 1, 2020, Sheffield Wholesalers Inc. adopted the dollar-value LIFO inventory method for income...

Accounting
1.2K views

1. M&M's Proposition I states that a company's value is independent of its capital structure....

Finance
1.2K views

Someone obtained a mortgage of 101334 to finance a $150,000 home. The title search will...