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<h3>What would be the value of $150 after eight years if you earn 12 % interest per year? A. $371.39 B. $415.96 C. $465.88 </h3>
<em>The compound interest is applied, that is to say, each year the interest produced is accumulated to the outstanding capital and the interest of the next period is calculated on the new outstanding capital.</em>
The formula for calculating compound interest is:
Compound interest = Total amount of Principal and interest in future less Principal amount at present = [P(1 + i)ⁿ] – P
(Where P = Principal, i = nominal annual interest rate in percentage terms, and n = number of compounding periods)
[P(1 + i)ⁿ] – P = P[(1 + i)ⁿ – 1] = $150[(1 + 12/100)⁸ – 1] = $150[(1.12)⁸ – 1] = $150[2.47596317629 - 1] = $150[1.47596317629] = $221.39
Total amount = $150 + $221.39 = $371.39
Answer : A.) $371.39
Answer:
Her solution is incorrect. The correct solution for the equation is x=7
Step-by-step explanation:
Sasha solved the equation <em>incorrectly</em>.
The correct way to solve this equation would be:
8x = 56
Divide both sides by 8.
You would get x=7.
This equation has 1 solution.
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<u>Hope this helps! Please let me know if you need more help, or if you think my answer is incorrect. Brainliest would be MUCH appreciated. Have a great day!</u>
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<u>Stay Brainy!</u>
−<em>Kallmekrish</em>