Answer:
$315
Step-by-step explanation:
You are going to want to use the simple interest formula for this. The one below is modified for solving the interest earned.
I = interest amount
P = principal amount
r = interest rate (decimal form)
t = time
Now we can plug in the values into the equation:
This means that Rachel earned $315 worth of interest in the 15 year period.
Answer:
$712.
Step-by-step explanation:
We have been given that a fund earns a nominal rate of interest of 6% compounded every two years. We are asked to find the amount that must be contributed now to have 1000 at the end of six years.
We will use compound interest formula to solve our given problem.
, where,
A = Final amount,
P = Principal amount,
r = Annual interest rate in decimal form,
n = Number of times interest is compounded per year,
t = Time in years.

Since interest is compounded each two years, so number of compounding per year would be 1/2 or 0.5.







Therefore, an amount of $712 must be contributed now to have 1000 at the end of six years.
Answer:
=11x=qrst/x
Step-by-step explanation:
12:7
because you add 7 and 5 and then there is the 7 for the book weight