You will be able to buy 135 songs with the rest of your paycheck. Hope I helped!
Answer: $20,780.10
Step-by-step explanation:
You need the Compound Interest Formula
A = P(1 + r/n)^nt
Step 1: Create the equation.
12,000(1 + 0.08/2)¹⁴
Step 2: Solve the equation.
Follow PEMDAS (parenthesis, exponents, multiplication...)
Parenthesis: (1 + 0.08/2) = (1 + 0.04) = (1.04)
Exponents: (1.04)¹⁴ = (1.73168)
Multiplication: 12,000(1.73168) = 20,780.1
Divide the first equation by 2 and add the result to the second equation. This will eliminate x.
... (-4x -2y)/2 + (2x +4y) = (-12)/2 +(-12)
... 3y = -18 . . . . . collect terms
... y = -6 . . . . . . . divide by 3
Substitute this into either equation to find x. Let's use the second equation, where the coefficient of x is positive.
... 2x +4(-6) = -12
... 2x = 12 . . . . . . . . add 24
... x = 6 . . . . . . . . . . divide by 2
The solution is (x, y) = (6, -6).
