Answer:
~820.8$
Step-by-step explanation:
The total money (M) after 18 years could be calculated by:
M = principal x (1 + rate)^time
with
principal = 400$
rate = 4% compounded monthly = 0.04/12
time = 18 years = 18 x 12 = 216 months (because of compounded monthly rate)
=> M = 400 x (1 + 0.04/12)^216 = ~820.8$
Answer: Assuming that event A has occurred
Step-by-step explanation:
Answer:
$53.61
Step-by-step explanation:
It looks like the rate of change is supposed to be -2 2/5% = -2.4% per year. That means the "growth factor" is ...
growth factor = 1 + growth rate
growth factor = 1 -2.4% = 1 -0.024 = 0.976
Each year, Charisse's cactus salt and pepper shakers will have their value multiplied by this factor. After 2 years, their value will be ...
($56.28)(0.976)(0.976) = $56.28×0.976^2 ≈ $53.61
The value is projected to be $53.61 in 2 years.
The answer is infinite because they equal each other
