Answer:
simple interest: $3330
compound interest: $6339.08
Step-by-step explanation:
Answer:
We conclude that the total amount accrued, principal plus interest, from compound interest on an original principal of $2500 at a rate of 5% per year compounded 6 times per year over 8 years is $3723.38.
Step-by-step explanation:
Given
Principle P = $2500
Interest rate r = 5% = 0.05
Time period t = 8 years
To determine
Accrue Amount A = ?
Using the compound interest equation

where:
A represents the Accrue Amount
P represents the Principal Amount
r represents the interest rate
t represents the time period in years
n represents the number of compounding periods per unit t
Important tip:
- Given that the interest is compounded 6 times each year, therefore, the value of n = 6.
now substituting P = 2500, r = 0.05, t = 8 and n = 6 in the equation



∵ 
$
Therefore, we conclude that the total amount accrued, principal plus interest, from compound interest on an original principal of $2500 at a rate of 5% per year compounded 6 times per year over 8 years is $3723.38.
Answer:
I think SSS ,.............
Since Zack wants to sell his car for 60% off the current price of $500, he has to multiply 0.60 (60% in decimal form) by $500, which equals $300. Now, the next step is very important. He has to subtract $500 from $300 since $300 is the amount OFF. Once he does that, he will get $200.
- Hope I helped :)
- Learning is beautiful thing and a lifelong journey.