How much would $500 invested at 6% interest compounded monthly be worth after 5 years? Round your answer to the nearest cent.
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A09) P(124
A. $512.63
B. $669.11
C. $674.43
D. $886.41

$669

Step-by-step explanation:

Given data

Principal= $500

Rate= 6%

Time= 5 years

The compound interest formula is given as

A= P(1+r)^t

A=500(1+0.06)^5

A=500(1.06)^5

A=500*1.338

A=$669

step-by-step explanation:

equation

you are asked to write the equation

  expression = 0

using the given expression. when you do that, you have

  2x^2-2x-12 = 0

factoring

you can see that each of the coefficients is even, so a factor of 2 can be removed immediately.

  2(x^2 -x -6) = 0

if you multiply the binomials (x+a)(x+b), you get

  (x +a)(x +b) = x^2 +(a+b)x +ab

this tells you the coefficient of x is the sum of two factors of the constant term. here, that means -1 is the sum of two factors of -6. we want to know those factors so we can factor the trinomial.

  -6 = -1×6 = -2×3 = -3×2 = -6×1

the factor pair that sums to -1 is {-3, 2}, so our factorization is

  2(x -3)(x +2) = 0

solutions

the solutions to this equation are the values of x that make the product zero. a product is zero only when only of the factors of the product is zero. here, that means

  x - 3 = 0

  x = 3 . . . add 3 to both sides of the equation

or

  x +2 = 0

  x = -2 . . . add -2 to both sides of the equation

the solutions to the equation are x=3 or x=-2. both of these values of x satisfy the equation—they make it be true.

multiple all that

step-by-step explanation:

27×17