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4 years ago

5

If you know how many CD's Mickey orders,can you determine how much money he spends?Write the correspondering expression.

1 answer:

Setler [38]4 years ago

4 0

no not until u know the price of a cd u cant determine the total price

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Step-by-step explanation:

So the general formula for compound interest is $A = P(1+\frac{r}{n})^{nt}$ where r is the interest rate, t is the time in years, and n is the amount of compounds per year. So plugging in the values for both equations you'll get

Opportunity Loans:

$A = 1600(1+\frac{0.0345}{12})^{(12)(1)}$

$A = 1600(1.002875)^{12}$

$A \approx 1600(1.035)$

$A = \$1,656.08$

Now to find the interest accrued on this loan you simply subtract 1600 from the A or final amount

$Interest=1656.08-1600\\Interest=56.08$

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$A = 1600(1+\frac{0.042}{4})^{(4)(1)}$

$A = 1600(1.0105)^4$

$A \approx 1600(1.042)$

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To find the interest we do the same thing we did in the previous problem

$interest = 1668.27-1600\\interest=68.27$

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