Answer: P = $ 1,998.01
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 24%/100 = 0.24 per year,
putting time into years for simplicity,
1 months ÷ 12 months/year = 0.083333 years,
then, solving our equation
P = 39.96 / ( 0.24 × 0.083333 ) = 1998.007992032
P = $ 1,998.01
The principal required to
accumulate interest of $ 39.96
on a rate of 24% per year for 0.083333 years (1 months) is $ 1,998.01.
Answer:
3
Step-by-step explanation:
Answer:
$843.74
Step-by-step explanation:
A = P (1 + r/n)^nt
A = 680(1 + 0.027/12)^12·8
A = 680( 1.00225)^96
A = 843.74
Answer:
nevermind
Step-by-step explanation:
