Answer: No, the money won't be enough to buy the car
Step-by-step explanation:
you plan on buying yourself a new $20,000 car on graduation day and graduation day is 24 months time. If you invest $300 a month for the next 24 months.
The principal amount, p = 300
He is earning 4% a month, it means that it was compounded once in four months. This also means that it was compounded quarterly. So
n = 4
The rate at which the principal was compounded is 4%. So
r = 4/100 = 0.04
It was compounded for a total of 24 months. This is equivalent to 2 years. So
n = 2
The formula for compound interest is
A = P(1+r/n)^nt
A = total amount that would be compounded at the end of n years.
A = 300(1 + (0.04/4)/4)^4×2
A = 300(1 + 0.01)^8
A = 300(1.01)^8
A = $324.857
The total amount at the end of 24 months is below the cost of the car which is $20000. So he won't have enough money to buy the car
Simply add the two dosages together, (0.15+0.025) and the answer is 0.175 :)
Answer:
Step-by-step explanation:
10% of 50 = 5
5% of 50 = 2.5
to get to 65 u do 5+5 = 10 so so far that is 20% but 20% only gets u to 60 so u add another 10% to reach 65
u have used 30% so the answer to yr question is 30%
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<em>does this help comment if / if not </em></h2>
128,147 that is in standard form
