Answer: No, the money won't be enough to buy the car
Step-by-step explanation:
you plan on buying yourself a new $20,000 car on graduation day and graduation day is 24 months time. If you invest $300 a month for the next 24 months.
The principal amount, p = 300
He is earning 4% a month, it means that it was compounded once in four months. This also means that it was compounded quarterly. So
n = 4
The rate at which the principal was compounded is 4%. So
r = 4/100 = 0.04
It was compounded for a total of 24 months. This is equivalent to 2 years. So
n = 2
The formula for compound interest is
A = P(1+r/n)^nt
A = total amount that would be compounded at the end of n years.
A = 300(1 + (0.04/4)/4)^4×2
A = 300(1 + 0.01)^8
A = 300(1.01)^8
A = $324.857
The total amount at the end of 24 months is below the cost of the car which is $20000. So he won't have enough money to buy the car
Answer:
-1/18
Step-by-step explanation:
No it’s D because it is rise over run and you rise 3 and run 1. 3/1 is simplified to 3.
Answer:
Hi there!
The following answers:
3. 7 c > 3 (1/4) pt 4. 5 gal > 18 qt
5. 45 cm = 450 mm 6. 4.5 km < 5000 m
Step-by-step explanation:
There are 2 cups in one pint.
There are 4 quarts in one gallon.
One kilo meter is 1000 meters.
