11. A roofer calculates his bid price using the formula P = 1.85s + 4.2f, where s is the area of the roof in square feet and f i
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Answer:
Principal = 3500
Time = 8 years
We are given that compound quarterly
So, No. of compounds per year = 2
Rate of interest = 5%
Formula :
Substitute the values :
Interest = 3863.345 - 3500 = 363.345
Hence the total amount in an investment of $3500 that was compounded quarterly for 8 years at a rate of 5% is $3863.345 and the interest that was made on that account mentioned is $363.345
For this case we must simplify the following expression:
We eliminate the parentheses taking into account that:
So:
We add similar terms taking into account that:
Equal signs are added and the same sign is placed.
Different signs are subtracted and the major sign is placed.
Answer: