Taber invested money in an account where interest is compounded every year. He made no withdrawals or deposits.
The function A(t) = 525(1 + 0.05)t represents the amount of money in the account after t years.
The function is explained as below
Amount = Principal * ( 1 + interest rate ) ^ time
Principal is the amount that is invested in the beginning
Therefore, Taber originally invested $525
Answer:
$16
Step-by-step explanation:
Simple interest is based on the principal amount of a loan or deposit, whereas compound interest is based on the principal amount and the interest that accumulates on it in every period.
Simple Interest = P x r x n
where P = Principal amount, r = Annual interest rate, n = Term of loan, in years
2% = 2 ÷ 100 = 0.02 so r = 0.02
Therefore,
Simple Interest = 400 x 0.02 x 2 = 16
So she will be paid $16 in the first two years.
The answer to this is 3.083
Unfortunately, your problem statement appears to be incomplete. What distance are you talking about? Have you an illustration to share? How does 0.25 inches fit into this problem? Please try again. Double-check to ensure that you have shared all of the problem you wish to solve.