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OverLord2011 [107]
3 years ago
11

Joan invests $800 at 12 1/2% per annum compound interest monthly.What is the amount of interest at the end of the first year?

Mathematics
1 answer:
amm18123 years ago
4 0

Answer:

Interest at the end of the first year is $105.93

Step-by-step explanation:

$800 at 12.5% APR compounded monthly.

Interest at the end of the year

= $800 *( (1+0.125/12)^12 - 1 )

= $800 * 0.132416

= $105.93

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oee [108]

Answer:

5.27

Step-by-step explanation:

Step  1 :     527

Simplify   ———

                   2  

<u>Equation at the end of step  1  : </u>

<em>   527 </em>

<em>  ——— ÷ 50 </em>

<em>     2  </em>

Step  2  :

              527      

Divide  ———  by  50

                2        

Final result :

   527            

 ——— = 5.27000  

   100          

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ed spent 8.5% of his savings on lunch,which cost 5.25$. how much did he have in savings before lunch​
kvv77 [185]
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3 years ago
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sveta [45]
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