So to find this we need to use the compound interest formula which is A=P(1 + r/n) ^nt
P = principal amount
R = percentage rate
N = number of times it is compounded yearly
T = time
So you plug in the numbers for the formula
50,000(1 + 0.07/ 365) ^0.07*365
The answer would be $202,732.78
I hope this helps :)
Answer:
x=6
Step-by-step explanation:
Answer: 55,000,000
this might not be right but hear
Answer: 9820
Step-by-step explanation:
The profit to be made when she sells the house is $103,800.
The first step is to determine the value of Tammy's house in 13 years. The formula to be used is:
- FV = P (1 + r)^n
- FV = Future value
- P = Present value
- R = interest rate
- N = number of years
$184,000 x (1.035)^13 = $287,767.92
Profit = value of the house in 13 years - cost of the house
$287,767.92 - $184,000 = 103,767 = $103,800
To learn more about future value, please check: brainly.com/question/18760477
