Goran rented a truck for one day. There was a base fee of $19.99 , and there was an additional charge of 94 cents for each mile
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An Investment of $10,000 yields 8% interest compounded quarterly. The accumulated capital after 6 months is $10,404. The accumulated capital after 5 years is $14.859.47
From the information given;
- The principal amount of investment = $10,000
- Interest Rate = 8% = 0.08
- number of times it get compounded = 4
a. we are to determine the amount of the accumulated capital after 6 months.
- i.e. when time (t) = 6 months.
Now, using the formula for calculating the amount value of the accumulated capital:
A = $10,404
b. we are to determine the amount of the accumulated capital after 5 years
- i.e. when time (t) = 5 years
A = $14859.47
Therefore, we can conclude that the accumulated capital after 6 months is $10,404 and the accumulated capital after 5 years is $14859.47
Learn more about compound interest here:
Answer:
$60
Step-by-step explanation:
The savings of Andries is $120 and his grandfather offered that he would give 50% of the amount he saved.
50% is actually just half of a given amount. So the short way to do this is just half the saving of Andries.
You can also think of it this way:
So we multiply that to the amount saved to solve for what is 50% of 120.