If the price went down $5 per day for four days straight, then it would have went down $20 total after the four days.
NO.....9.66% less than $18,000 is $16,261.20
230×12= $2,760
Answer:
Part A) Annual
Part B) Semiannual
Part C) Monthly
Part D) Daily
Step-by-step explanation:
we know 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 Number of Time Periods
n is the number of times interest is compounded per year
so
Part A) Annual
in this problem we have
substitute in the formula above
Part B) Semiannual
in this problem we have
substitute in the formula above
Part C) Monthly
in this problem we have
substitute in the formula above
Part D) Daily
in this problem we have
substitute in the formula above
General Idea:


Conclusion:
Amount of interest that Lucy to be charged in a typical month is <u>$9.75</u>