Answer: After 7 years, the value of the sailboat is $3045.49.
Step-by-step explanation:
Since we have given that
Original value of the sailboat = $9500
Depreciation rate = 15%
Number of years = 7
As we know the formula for "Compound Interest "i.e
where,
A denotes Amount
P denotes original value
r denotes rate of depreciation,
n denotes number of years.
So, our equation becomes ,
Hence, after 7 years, the value of the sailboat is $3045.49.
No because if you split it in half the halves don’t match
Answer:
80
,
531
Step-by-step explanation:
Answer:
12/15
Step-by-step explanation:
Answer:
You can calculate Interest on your loans and investments by using the following formula for calculating simple interest: Simple Interest= P x R x T ÷ 100, where P = Principal, R = Rate of Interest and T = Time Period of the Loan/Deposit in years.
Formula: Simple Interest=P×r×t where: P=Principal amount; r=Annual interest rate; t=...
Principal Amount: Principal Amount remains constant on Simple Interest
Meaning: Simple Interest is calculated on the Principal Amount for the entire tenure
Calculation: It is easy to calculate Simple Interest
