The hourly rate is $3 a hour with a $2 initial fee.
Answer: the value of the account at the end of 6 years is is $8577
Step-by-step explanation:
We would apply the formula for determining compound interest which is expressed as
A = P(1+r/n)^nt
Where
A = total amount in the account at the end of t years
r represents the interest rate.
n represents the periodic interval at which it was compounded.
P represents the principal or initial amount deposited
From the information given,
P = 6000
r = 6% = 6/100 = 0.06
n = 4 because it was compounded 4 times in a year.
t = 6 years
Therefore,.
A = 6000(1+0.06/4)^4 × 6
A = 6000(1+0.015)^24
A = 6000(1.015)^24
A = $8577
Answer:
3.5 m/hr
Step-by-step explanation:
2 + c = 5 -c c = speed of current
2 c = 3 c = current speed = 1.5 m/hr
your speed = 5 - 1.5 (or 2 + 1.5) = 3.5 m/hr
Answer:
16 dollars and 32 cents
Step-by-step explanation:
