The money in the Felix's account will be $6798 when he is 21.
<u>Step-by-step explanation:</u>
It is given that,
- The amount deposited is $2000.
- The account earns 6% compound interest.
- It is compounded annually for 21 years.
<u>To find the money in Felix's account after 21 years :</u>
The formula used here is,
⇒ 
where A is the amount after 21 years.
- P is the initial amount deposited ⇒ P = 2000
- r is the rate ⇒ r = 0.06
- n is the number of times interest is compounded per year⇒ n = 1
- t is the time period ⇒ t = 21
⇒ 
⇒ 
⇒ 
⇒ 
Therefore, The money in the Felix's account will be $6798 when he is 21.
Answer:
$4
Step-by-step explanation:
To answer, we have to find the base unit of how much each package would cost out of a box. To do this, we divide the total amount of the box of paper by how many packages were inside:
40 / 8 = 5
So, each package costed Ms. Jones $5, while the single packages cost $5.50, so Ms. Jones saved $0.50 per package she bought, which if you multiply by 8, you get 4, so Ms. Jones saved a total of $4.
Hope this helps :)
Answer:
$6400
Step-by-step explanation:
4000x.05=200× 12=2400+4000=$6400