The answer is rounded to the nearest tenth.
Answer:
so he has 100$ left
Step-by-step explanation:
He spends 1/5 of his salary on two chairs that is 100$
then He spends 3/5 of his salary on an air conditioner for his new apartment that is 300$
so he has 100$ left
After 6 years the investment is $5555.88
Step-by-step explanation:
A principal of $3600 is invested at 7.5% interest, compounded annually. How much will the investment be worth after 6 years?
The formula used to find future value is:
where A(t) = Accumulated amount
P = Principal Amount
r = annual rate
t= time
n= compounding periods per year
We are given:
P = $3600
r = 7.5 %
t = 6
n = 1
Putting values in formula:
So, After 6 years the investment is $5555.88
Keywords: Compound Interest formula
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