What is the total amount that Matthew's bank will receive after lending him $8,000 for four years at an interest rate of 6 perce
1 answer:
Answer:
Total amount that Matthew's bank will receive is $10099.81.
Step-by-step explanation:
We need to find the amount Matthew's bank will receive after lending him $8,000 for four years at an interest rate of 6 percent, compounded annually.
The formula for compound interest is:
Where A = future value
P= Principal Amount
r = interest rate
and n= time
So in the question we are given:
P= $8000
r = 6% or 0.06
t = 4 (since 4 yeras compounded annually)
A= 8000*(1+0.06)^4
A= 8000*(1.06)^4
A= 10099.81
So, total amount that Matthew's bank will receive is $10099.81.
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Answer:
-- Domain
-- Range
It is a function
Step-by-step explanation:
Given
Required
State the domain and range
Determine if the relation is a function
From the question, we have the domain and range as:
-- Domain
-- Range
Next, is to determine if the relation is a function or not.
Yes, it is a function.
The number of elements in the domain is 4
The number of elements in the range is 3
<em>When the domain has more elements than the range, this is called a many-to-one function, and it is a valid type of function.</em>
Answer:
C. $5,509.50
Step-by-step explanation:
The computation of the estimated total tax due in case of taxable income for $43,500 is shown below:
Since in the question the income brackets and based on the income the different tax is to be charged
For $9,525, the 10% tax is charged i.e
= $952.50
Upto $38,700, the 12% tax is charged i.e
= $3,500.88
The remaining amount left is
= $1,055.78
Now the total tax due is
= $952.50 + $3,500.88 + $1,055.78
= $5,509.16 approx i.e $5,509.50