Answer:
22
Step-by-step explanation:
Answer:
37.7
Step-by-step explanation:
Hypotenuse is the longest side
First, we convert the interest such that it is compounded annually. The formula would be:
ieff = (1 + i/m)^m - 1
where m = 4, since there are 4 quarters in a year
ieff = (1 + 0.025/4)^4 - 1
ieff = 0.0252
Then we use this for this equation:
F = P(1 + i)^n, where F is the future worth, P is the present worth and n is the number of years
F = $600(1 + 0.0252)^15
F = $871.53
Answer:
Interest Manny earns after 2 years is $52
Step-by-step explanation:
Amount deposited = $650
Simple annual interest rate = 4%
To find: Interest after 2 years
We know that the formula to calculate the interest amount is
Simple interest (S.I.) =
where,
P is the initial amount deposited
r is the rate of simple interest in percentage
t is the time in years for which interest is to be calculated
Substituting the known values in the formula, we get
S.I =
= 52
Hence the interest Manny earns after 2 years is $52
B and c are similar to eachother