The formula for calculating compound interest with yearly contributions is:
Balance = X*(1 + Y)^n + Z((1 + Y)^(n + 1) - (1 + Y)/Y)
where the balance is the money earned after n years invested
Y is the interest rate as a fraction
Z is the yearly contribution
X is the starting investment
Therefore the calculation for this example is:
Balance = 1200*(1 + 0.05)^48 + 1200((1.05)^49 - (1.05)/05)
= $249,393.5
Answer:
the answer is 9/ 15
Step-by-step explanation:
Sin y = p / h
= 9/ 15 (from y reference )
cos x =b/h = 9 / 15
as from x reference b= 9
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25
a^2+b^2=c^2
20^2+15^2=c^2
400+225=c^2
625=c^2
**square root both sides**
c=25
Ryan: y=10x+25 Alex: y=11x+20
a) Mr. Smith should choose Alex because the price would be $42 compared to Ryan which would be $45
b) Mr.Smith could choose either Ryan or Alex because they would both charge $75
