First you put 8 on the inside of a house and 5.5 on the outside. Then you take the 5.5 and see how many times it can go in 8 with out going over, in this case its once. So take 5.5 and subtract it under the 8. Since you used up the whole number, you have to put a decimal now, so put a decimal on the right side of the 1 on top of the house. Then, add a 0 next to the 8 and put it next to the answer of 8-5.5, which is 2.5, and now 25, the zero moving the number to the left once. Now you find out how many times 5.5 goes into 25, which is 4, adding that next to the decimal on top of the house. Now again, subtract 22, which is 4 x 5.5, from 25. Then add a zero, making 3, now 30.Now find how many times 5.5 goes into that, and it is 5. This 4 and 5 pattern will go on forever, so over the 45 in your answer 1.45, put a line. Like this __ 1.45
You make a single deposit of $100 today. It will remain invested for 4 years at 8% per year compounded annually. What will be the future value of your single deposit at the end of 4 years?
