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:
Number 3
Step-by-step explanation:
The reason this is so is because he is looking for the amount of peaches he can buy. The equation that is number one represents that because it say 3.18 + 1.19p ≤ 10.00 showing that he wants an amount of peaches that costs less than 10.00. 1.19p standing for the amount of peaches and 3.18 representing the pomegranates.
Answer:
A
Step-by-step explanation:
15 miles/2.5 mph=15/2.5=6 hours left
so 6 hours, 15 miles which is option D
