Step-by-step explanation:
t = 4
u = 6 + 2
Find t - u
solu
t - u
= 4 - ( 6 + 2 ) = 4 - 8
Answer is -4
Answer:
The principal investment required to get a total amount of $ 1,000,000.00 from compound interest at a rate of 6% per year compounded 12 times per year over 45 years is $ 67,659.17.
Step-by-step explanation:
Given
- Accrued Amount A = $1000000
- Interest rate r = 6% = 0.06
- Compounded monthly n = 12
To determine:
Using the formula
![A\:=\:P\left(1\:+\:\frac{r}{n}\right)^{nt}](https://tex.z-dn.net/?f=A%5C%3A%3D%5C%3AP%5Cleft%281%5C%3A%2B%5C%3A%5Cfrac%7Br%7D%7Bn%7D%5Cright%29%5E%7Bnt%7D)
![P\:=\frac{A}{\left(1\:+\:\frac{r}{n}\right)^{nt}}](https://tex.z-dn.net/?f=P%5C%3A%3D%5Cfrac%7BA%7D%7B%5Cleft%281%5C%3A%2B%5C%3A%5Cfrac%7Br%7D%7Bn%7D%5Cright%29%5E%7Bnt%7D%7D)
substituting A = 1000000, r = 0.06, t = 45, and n = 12
![P\:=\frac{1000000}{\left(1\:+\:\frac{0.06}{12}\right)^{12\cdot 45}}\:](https://tex.z-dn.net/?f=P%5C%3A%3D%5Cfrac%7B1000000%7D%7B%5Cleft%281%5C%3A%2B%5C%3A%5Cfrac%7B0.06%7D%7B12%7D%5Cright%29%5E%7B12%5Ccdot%2045%7D%7D%5C%3A)
![=\frac{1000000}{1.005^{540}}](https://tex.z-dn.net/?f=%3D%5Cfrac%7B1000000%7D%7B1.005%5E%7B540%7D%7D)
$
Therefore, the principal investment required to get a total amount of $ 1,000,000.00 from compound interest at a rate of 6% per year compounded 12 times per year over 45 years is $ 67,659.17.
Step-by-step explanation:
39500 x 103 = 4,068,500
in scientific notation, that ia 4.0685 x 10⁶