Suppose you invest $50 a month in an annuity that earns 4.8% apr compounded monthly. how much money will you have in this account after 10 years?

$80.73.  

Step-by-step explanation:

We have been given that you invest $50 a month in an annuity that earns 4.8% APR compounded monthly. We are asked to find the amount of money in account after 10 years.

We will compound interest formula to solve our given problem.

, where,

A = Amount after t years,

P = Principal amount,

r = Interest rate in decimal form,

n = Number of times interest is compounded per year,

t = Time in years.

Let us convert our given interest rate in decimal form.

Upon substituting our given values in above formula we will get,

Therefore, we will have $80.73 in the account after 10 years.

step-by-step explanation:

use pothagarean therom

a^2+b^2=c^2 so first ac

acm is a right triangle because c= 90°

and am (the hypotenuse or c) =16+9 =25

but there is not enough info we need another angle or side length

step-by-step explanation:

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