A refrigerator costs $850. The estimated yearly operating cost of the refrigerator is $62. Average annual cost = Purchase price
2 answers:
Answer:
Step-by-step explanation:
Alright, lets get started.
The cost of refrigerator is 850
The operating cost for 1 year = 62
So, for x years, the operating cost will be =
Average annual cost = purchase cost + operating cost
Average annual cost =
So, the expression will be : : Answer
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Answer:
$14,048.62
Step-by-step explanation:
The interest is 9% per year and compounded 3 times a year, so each compound will be 9%/3 = 3%
The time elapsed will be 15 years and the interest compounded 3 times a year, so the number of compounds happens will be = 15 years* 3 compounds/year= 45x compound.
So basically the money will get 3% interest 45 times. To put into the compounding interest formula, the final account balance will be:
A = P (1 + [ r / n ]) ^ nt
A= amount of the balance after a period of t
P= principal, the initial money deposit( $3,715)
r= rate(9%)
n= number of compound per unit of time(3 times per year)
t= time(15 years)
The calculation will be:
A = P (1 + [ r / n ]) ^ nt
A =
A = $14,048.62