A principal, $50 is invested at 8% interest for 2 years. Determine its future value if the interest is compounded [Hint: S = P (
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Answer:
Step-by-step explanation:
A quick review on PEMDAS, the order of how to solve an equation:
P - parentheses. When parentheses are being used, you have to do everything inside them before doing everything outside of them.
E - exponents. We'll skip these, since there aren't any exponents we need to worry about in this equation.
M/D - multiplication/division. I include these both together because they can be done at the same time.
A/S = addition/subtraction. Can also be done at the same time.
Some other things to note:
You add all the things with an x attached to it, and you add all the things without an x attached to it, and these never cross.
When you bring something from one side of an equal sign to another, you make it negative.
Let's solve for x using what we've learned: