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1 answer:
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Answer:
The principal must be = $8991.88
Step-by-step explanation:
Formula for compound interest is:
Where A is the amount after 't' years.
P is the principal amount
n is the number of times interest is compounded each year.
r is the rate of interest.
Here, we are given that:
Amount, A = $15000
Rate of interest = 13 % compounded quarterly i.e. 4 times every year
Number of times, interest is compounded each year, n = 4
Time, t = 4 years.
To find, Principal P = ?
Putting all the given values in the formula to find P.
So, <em>the principal must be = $8991.88</em>
Answer:
y = 2/3x + 4
Step-by-step explanation:
y = mx + b
m= 4/6 (y intercept over x intercept)
simplify
m= 2/3
b= 4 (y intercept)
