Answer:
a) $4000
b) $2000
Step-by-step explanation:
a)
interest = Principal x rate as decimal x time
interest = 20,000 x 0.05 x 4
interest = 4000
b)
interest = Principal x rate as decimal x time
interest = 20,000 x 0.05 x 2
interest = 2000
you save $2000 if you pay after 2 years
Answer:
mhmmm well i don't know what you got wrong but it was prob cus u didnt sum wrong or wasn't paying attention to what you were doing. Hope this helpss have a safe and joyful holiday
Step-by-step explanation:
Answer:
7.87 years
Step-by-step explanation:
#First we determine the effective annual rate based on the 9% compounded semi annual;

#We then use this effective rate in the compound interest formula to solve for n. Given that the principal doubles after 2 yrs:

Hence, it takes 7.87 years for the principal amount to double.
Answer: 637
Step-by-step explanation:
Follow the
Symbols like a divide