Which fraction is equivalent to 4%
2 answers:
You might be interested in
ANSWER
By simplifying the left hand side using the Pythagorean Identity.
EXPLANATION
The given identity is
Take the left hand side and simplify to get the right hand side.
Collect LCM for the denominators.
Recall the Pythagorean Identity.
This implies that:
We substitute this to get,
Answer:
$14,048.62
Step-by-step explanation:
The interest is 9% per year and compounded 3 times a year, so each compound will be 9%/3 = 3%
The time elapsed will be 15 years and the interest compounded 3 times a year, so the number of compounds happens will be = 15 years* 3 compounds/year= 45x compound.
So basically the money will get 3% interest 45 times. To put into the compounding interest formula, the final account balance will be:
A = P (1 + [ r / n ]) ^ nt
A= amount of the balance after a period of t
P= principal, the initial money deposit( $3,715)
r= rate(9%)
n= number of compound per unit of time(3 times per year)
t= time(15 years)
The calculation will be:
A = P (1 + [ r / n ]) ^ nt
A =
A = $14,048.62