Determine the amount you need to invest to have $22,000 dollars in 4 years if you invest at 5% annual interest, compounded quart
1 answer:
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Answer:Hi is this a simultaneous equation,
Answer:
Mr.Smith paid $29.4.
Step-by-step explanation:
Mr.Smith paid $24.5 plus additional 20% of $24.5, and to figure out the total amount that he paid, we need to know what is 20% of $24.50.
20% of $24.50 is:
.
Mr.Smith paid additional $4.9; therefore, the total amount he paid was
$24.5 + $4.9 = $29.4.
Mr. smith paid $29.4.