Answer:
A = 800( 1.075)^(t)
Step-by-step explanation:
The equation for interest is
A = p (1+r/n) ^ nt where p is the principle, r is the interest rate, n is the number of times per year and t is the years
A = 800( 1+ .075/1)^(1*t)
A = 800( 1.075)^(t)
Remember that
The compound interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is the number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
P=$1,700
t=5 years
r=1.53%=1.53/100=0.0153
n=12
Part A
substitute the given values
A=$1,835.06
therefore
<h2>The answer to Part A is $1,835.06</h2>
Part B'
Find out the interest
I=A-P
substitute given values
I=$1,835.06-$1,700
I=$135.06
<h2>The answer to Part B is $135.06</h2>
Answer:
It should be 56, sorry if i am wrong
Step-by-step explanation:
28 divided by 14 is 2
56 divided by 14 is 4