Answer:
Step-by-step explanation:
The compounding formula for this is
where A(t) is the amount after all the compounding is done, P is the initial investment, r is the interest rate as a decimal, n is the number of times the interest compounds per year, and t is the time in years. For us, our n is 2, since the money compounds every 6 months, and 6 months goes into 1 year 2 times. Our formula then is:
which simplifies a bit to
which simplifies a bit more to
Raise 1.06 to the power of 18 and then multiply the 2 numbers together:
A(t) = 823(2.854339153) so
A(t) = 2349.12
10 people are above 80. I hope this helped:)
Make an equation:
x= 16% x 50
x= 16 50
---- x ---- Cross Multiply
100 1
x= 16
------ = 8
Answer:
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Step-by-step explanation:
