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VladimirAG [237]
3 years ago
10

Emily would like to buy some new

Mathematics
1 answer:
bonufazy [111]3 years ago
6 0

Answer:

$14,277.80

Step-by-step explanation:

The standard formula for compound interest is given as;

A = P(1+r/n)^(nt) .....1

Where;

A = final amount/value

P = initial amount/value (principal)

r = rate yearly

n = number of times compounded yearly.

t = time of investment in years

For this case;

P = $7,400

t = 8 years

n = 4 (quarterly)

r = 9.5% = 0.095

Using equation 1.

A = $7,400(1+0.095/4)^(4×7)

A = $7,400(1.02375)^(28)

A = $7,400(1.929432606035)

A = $14,277.80

final amount/value after 8 years A =$14,277.80

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nataly862011 [7]
So first, you have to remember the order of operations. That means that whatever is in the parentheses is what has to be done first
However, because one of the numbers in the parentheses is a variable and the other isn't, we can distribute instead
Therefore, 3(12+4x) distributes by multiplying the 3 into both numbers in the parentheses. So we get 36+12x
Now the equation is 20=8+36+12x
Now, bring all numbers without variables on the left side

20-8-36=8-8+36-36+12x
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Now simplify

20-8-36=12x
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Hope this helped!!! :D
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