Answer:
B. 5.25 square units
Step-by-step explanation:
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Answer:
by solving 3
Step-by-step explanation:
Answer: the value of the account after 6 years is $101559.96
Step-by-step explanation:
If $64,000 is invested in an IRA account, then
Principal = $64,000
So P = 64,000
The rate at which $64000 was compounded is 8%
So r = 8/100 = 0.08
If it is compounded once in a year, this means that it is compounded annually (and not semi annually, quarterly or others). So
n = 1
We want to determine the value of the account after 6 years, this means
time, t = 6
Applying the compound interest formula,
A = P(1 + r/n)^nt
A = amount after n number of years
A = 64000( 1 + 0.08/1)^1×6
A = 64000(1.08)^6
A= 64000×1.58687432294
A= 101559.956668416
Approximately $101559.96 to 2 decimal places
Answer:
14
Step-by-step explanation:
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Y=350x+6500
X, is the number of months you pay $350
