You invest an initial $2,000 in an account that has an annual interest rate of 6%, compounded daily. How much money will you hav
1 answer:
You might be interested in
Answer is below this comment :D
Answer:
26.5%
Step-by-step explanation:
<u>Increasing Percentages</u>
When sequential percentages increasing are computed, each increase applies to the previous result, instead of the first quantity. That is why sometimes the final results may be confusing. For example, increasing 10% and then 15% will not be the same as increasing a total of 25%.
The average test scores of RSM students first increased by 10%. It means that some quantity C increased by
Now the average test scores are
A new increasing occurred by 15%, and the previous quantity must be multiplied by 1.15, so the final average test scores are
It means that the total increasing was