The equation for this is:
F = P(1+i)ⁿ
where
F is the present accounts balance
P is the initial deposit
i is the interest rate
n is the number of months
The interest rate is nominal which is 2.9% per year compounded monthly. Since there are 12 months in a year, that is equal to an effective interest rate of 0.24167% per month compounded monthly (i = 0.0024167). In 9 years, there are a total of 108 months, so n=108.
<span>$2033.88 = P(1+0.0024167)</span>¹⁰⁸
P = $1567.147
Answer:
5
Step-by-step explanation:
[ y - 3 = 5(x - 2) ] is written in point slope form [ y - y1 = m(x - x1) ] where (x1, y1) = any given points and m = slope. Looking at the equation, m = 5, so that is the slope.
Best of Luck!
Answer:
5%
Step-by-step explanation:
Multiply both numerator and denominator by 100. We do this to find an equivalent fraction having 100 as the denominator.
0.05 × 100/100
= (0.05 × 100) × 1/100 = 5/100
9514 1400 393
Answer:
83.73 in³
Step-by-step explanation:
It is appropriate to use the formula for the volume of a cone:
V = (1/3)πr²h
V = (1/3)(3.14)(4 in)²(5 in) ≈ 83.73 in³
The volume of the cone is about 83.73 in³.
37/50 as a decimal is: <span>0.74
</span><span>To get 37/50 converted to decimal, you simply divide 37 by 50.
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