Rob invests $3,715 in a retirement account
1 answer:
Answer:
$14,048.62
Step-by-step explanation:
The interest is 9% per year and compounded 3 times a year, so each compound will be 9%/3 = 3%
The time elapsed will be 15 years and the interest compounded 3 times a year, so the number of compounds happens will be = 15 years* 3 compounds/year= 45x compound.
So basically the money will get 3% interest 45 times. To put into the compounding interest formula, the final account balance will be:
A = P (1 + [ r / n ]) ^ nt
A= amount of the balance after a period of t
P= principal, the initial money deposit( $3,715)
r= rate(9%)
n= number of compound per unit of time(3 times per year)
t= time(15 years)
The calculation will be:
A = P (1 + [ r / n ]) ^ nt
A =
A = $14,048.62
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1+100=101
2+99=101
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4+97=101
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This question relates to the discovery of Gauss, a mathematician. He found out that if you split 100 from 1-50 and 51-100, you could add them from each end to get a sum of 101. As there are 50 sets of addition, then the total is 50×101=5050
So, the sum of the first 100 positive integers is 5050.
Quick note
We can use a formula to find out the sum of an arithmetic series:
Where s is the sum of the series and n is the number of terms in the series. It works for the above problem.