0.3 is 3 tenths.
The order of "ths" is tenths, hundredths, thousandths.
Since there are no numbers after the 3, you simply have to add 2 zeros to make it 300 thousandths.
0.300<span />
The effective annual interest rate is:
i = (1 + 0.064/12)^12 - 1 = 0.066
In year 1: the interest is $613.80 (multiple $9300 by 0.066)
In year 2: the interest is $654.31 (add interest from year 1 to $9300 and multiply by 0.066)
In year 3: the interest is $656.98 (do the same as year 2)
In year 4: the interest is $657.16
The total interest is: $2582.25
The present worth of this amount is:
P = 2582.23 / (1 + 0.066)^4 = $1999.72
The answer is $1999.72.
Answer:
50
Step-by-step explanation:
Simple you just solve for y and put the equation in slope-intercept form
