Answer: $15385 should be deposited.
Step-by-step explanation:
The principal was compounded monthly. This means that it was compounded 12 times in a year. So
n = 12
The rate at which the principal was compounded is 7.8%. So
r = 7.8/100 = 0.078
It was compounded for 4 years. Therefore,
t = 4
The formula for compound interest is
A = P(1+r/n)^nt
A = total amount in the account at the end of t years. The total amount is given as $21000. Therefore
21000 = P (1+0.078/12)^12×4
21000 = P (1+0.078/12)^48
21000 = P (1+0.0065)^48
21000 = P (1.0065)^48
P = 21000/1.365
P = $15385
Answer:
11
Step-by-step explanation:
Answer:
6 and 1/3
Step-by-step explanation:
the only thing gets reduced is the fraction part and 5 and 15 have common numbers in 5 5 goes into 5 one time and 5 goes into 15 3 times. so it's 6 1/3
Answer:
0.5958
Step-by-step explanation:
Turn the percentage into a decimal.
3% -> 0.03
Multiply.
19.86 * 0.03 = 0.5958
Best of Luck!
3.6 because all your doing is subtracting then mulitplying
