Answer:
$7,544.58
Step-by-step explanation:
We will use the compound interest formula provided to solve this:
<em>P = initial balance</em>
<em>r = interest rate (decimal)</em>
<em>n = number of times compounded annually</em>
<em>t = time</em>
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First, change 3.3% into its decimal form:
3.3% -> -> 0.033
Since the interest is compounded monthly, we will use 12 for n. Lets plug in the values now:
The balance after 1 year will be $7,544.58
Answer:
Option A. 17.6%
Step-by-step explanation:
Since it is given that stems are in whole percent and leaves are tenths of percent which means if we take the first steam value of 5 7;
it means that 5 is whole percent and 7 will be written as = 0.7 percent which as a whole indicate that the first stem leaf represent 5.7% of residents aged 65 and over.
Now the highest percent of older residents for Florida will be the last stem leaf in the data given as 17 + 0.6 will represent 17.6% which is the highest among all others.
5.7% is the lowest of them all and there is no value as of 176% in the given stem leaf plot data.
Therefore option A id correct with 17.6% percent as of Florida.