Answer:
$ 1,060.00
Step-by-step explanation:
A = $ 1,060.00
A = P + I where
P (principal) = $ 1,000.00
I (interest) = $ 60.00
Compound Interest Equation
A = P(1 + r/n)^nt
Where:
A = Accrued Amount (principal + interest)
P = Principal Amount
I = Interest Amount
R = Annual Nominal Interest Rate in percent
r = Annual Nominal Interest Rate as a decimal
r = R/100
t = Time Involved in years, 0.5 years is calculated as 6 months, etc.
n = number of compounding periods per unit t; at the END of each period
Answer:
B. -13
Step-by-step explanation:
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Answer:
The mean growth annual rate over this period is 0.0036
Step-by-step explanation:
we know that
The mean growth annual rate is calculated as the sum of each year's growth rate divided by the number of years

Convert to decimal form

therefore
The mean growth annual rate over this period is 0.0036