Answer:
$<em>150,858.5</em>
Step-by-step explanation:
The formula for calculating compound interest is expressed as;
A = P(1+r/n)^nt
P is the Principal = $124000.00
r is the rate = 12% = 0.12
t is the total time = 2 years
n is the time of compounding = 1/4 = 0.25(quarterly)
Substitute into the formula;
A= 124000(1+0.12/(0.25))^(0.25)(2)
A = 124000(1+0.48)^0.5
A = 124000(1.48)^0.5
A = 124000(1.2166)
A = 150,858.5
<em>The amount after 2 years if compounded quarterly is 150,858.5</em>
Answer:
7
Step-by-step explanation:
The answer is 2,700
This is because
60
x45
------------
300
+2400
--------------
Or Use Partial Products
60. 0. 1.0x40
___________. 2.60x40
I2400 I. 30. I.
40I. I. I. 3.0x40
|---------I----------I. 4.0x5
5I. 0. I. 0. I
l____ I______I
I hope this helped because this was a lot and I mean a lot of work
Answer:
6.06%
Step-by-step explanation:
