Find the area of a triangle with a base of 18 feet and a height of 7 feet
2 answers:
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Interest on interest, or compound interest, is the adding of interest to the principal sum of a loan or deposit. The account balance after a period of 5 years will be $1.63634×10²⁰.
<h3>What is compound interest?</h3>Interest on interest, or compound interest, is the adding of interest to the principal sum of a loan or deposit. It's the outcome of reinvesting interest rather than paying it out so that interest is received on the principal plus previously collected interest in the next quarter.
A = final amount
P = initial principal balance
r = interest rate
n = number of times interest applied per time period
t = number of time periods elapsed
Given the principal amount is $12,385, the rate of interest is 7.5%, and the time period is daily. Therefore, the amount can be written as,
Hence, the account balance after a period of 5 years will be $1.63634×10²⁰.
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Answer:
She will earn $85 in 10 hours.
Step-by-step explanation:
If Rachel earned $34 for 4 hours of work, we must divide the amount earned by the number of hours worked in order to find out her hourly rate and then multiply it by 10 to determine how much she would earn if she worked 10 hours.
She will earn $85 in 10 hours.