Step-by-step explanation:
The formula for compound interest is
P = I (1 + r/n)^nt
where
P: the total amount of money in the account after a certain amount of time
I: the principal amount
r: the interest rate as a decimal
n: the number of times a year interest is compounded
t: the number of years passed
For Patrick:
P = 200 (1 + 0.02/12)^12*8
P = 200 (1 + 0.00166667)^96
P = 200 (1.00166667)^96
P = 200 * 1.00166667^96
P = $234.67
For Brooklyn:
P = 200 (1 + 0.04/4)^4*8
P = 200 (1 + 0.01)^32
P = 200 (1.01)^32
P = 200 * 1.01^32
P = $274.99
After 8 years, Patrick has $234.67 and Brooklyn has $274.99
Answer:
y = 1
Step-by-step explanation:
A) The average market price is (12 + 8 + 10 + 13 + 14 + 8) / 6 = $10.83
b)
The total amount spent was: 12*8 + 8*12 + 10*10 + 13*7 + 14*7 + 8*12 =
$577. The total number of shares was: 8 + 12 + 10 + 7 + 7 + 12 = 56.
Therefore the average price per share was $577 / 56 shares =
$10.30/share.
c) Since the cost per share in June was $12, and her average cost was $10.30, dollar-cost averaging worked in her favor since her average cost was lower.
Answer:
9-1=8
Step-by-step explanation:
he started with 9 but at the end of the day he had 8. meaning he ate 1 peice
Answer:
Step-by-step explanation: