Answer:
$13,724
Step-by-step explanation:
From the above question, we are given the following values:
Principal = P = $12,000
Interest = r = 2.25% = 0.0225
Compounded semi annually = n = 2
Time (t) = 6 years
From the question, we understand that we are to find the total (full) Amount Karen withdrew.
The formula to use to calculate the Total Amount of money given that this is a compound interest question is:
Total(full) Amount = P( 1 + r/n) ^n/t
= $12,000( 1 + 0.0225/2) ^2×6
= $12,000(1.01125)^12
= $13724.093289
Approximately to the nearest cent
≈ $13,724
Therefore, Karen withdrew $13,724 from the account.
The answer to 6 is repeating I believe
Step-by-step explanation:
The answer is letter B. Negative and Negative is Positive.
Answer:
C. $824.74, $175.26
Step-by-step explanation:
1) Amount Credited
The formula to calculate the amount credited =
Amount paid ÷ ( 100% - Discount)
Discount is given in the question as 3/10
Where 3 = Discount rate
Amount paid = $800
Amount credited = 800/( 100% - 3%)
= 800/ 97%
= 800/ 0.97
= $824.74
b) Outstanding balance = Invoice - Amount credited
Invoice = $1000
Amount credited = $824.74
Outstanding balance = $1000 - $824.74
= $175.26
