Given:
principal = 7,000
interest rate = 5% compounded annually
term = 3 years
A = P (1 + r/n)^nt
A = future amount to be received by First Consumer Bank
P = loan principal
r = rate
n = number of times compounded in a year
t = term
A = 7,000 ( 1 + 5%/1)^1x3
A = 7,000 (1.05)³
A = 7,000 (1.157625)
A = 8,103.375
First Consumer Bank will receive 8,103.375 from Jane after lending 7,000 for 3 years compounded annually at 5%.
126 years....it takes half of the sample to decay in 63 yrs. then half of the sample remaining, ( half of 50% is 25%) takes another 63 years which would total at 126
Answer:
$27.69
Step-by-step explanation:
Given
Monthly budget (See attachment)


Required
Determine the closest hourly wage
From the attachment, the monthly budget is:

First, we calculate the closest weekly earnings.
Since a month = 4 weeks.
Then


Next, we calculate the hourly earnings:
Since 1 week = 40 hour
Then


<em>From the list of options, the closest is: $27.69</em>