Answer:
Does this help in any way?
Step-by-step explanation:
Answer:
$ 8,695.35
Step-by-step explanation:
This is a compound interest question
Amount after t years = A = P(1 + r/n)^nt
Where P = Initial Amount saved
r = interest rate
t = time in years
n = compounding frequency
A = 10,000
r = 3.5 %
t = 21 - 17 = 4 years
n = Compounded monthly = 12
Step 1
Converting R percent to r a decimal
r = R/100 = 3.5%/100 = 0.035 per year.
P = A / (1 + r/n)^nt
Solving our equation:
P = 10000 / ( 1 + (0.035/12)^12 ×4 =
P = $8,695.35
The principal investment required to get a total amount, principal plus interest, of $10,000.00 from interest compounded monthly at a rate of 3.5% per year for 4 years is $8,695.35.
Answer: B and E
Step-by-step explanation:
I just took the assignment. :)
Answer is 7
Step by step explanation
3x+159=180
3x=180-159=21
x=7
<u>Answer:</u>
E(n) = n + 5
<u>Explanation:</u>
The profit is the difference between the amount of money received as a revenue and the amount of money spent as expenses.
<u>This means that:</u>
Profit = Revenue - Expenses
<u>Rearrange the formula to solve for the expenses, we get:</u>
Expenses = Revenue - Profit
<u>We are given that: </u>
Revenue = R(n) = 18n
Profit = P(n) = 17n - 5
<u>Substitute in the above formula to get the formula for expenses as follows:</u>
E(n) = R(n) - P(n)
E(n) = 18n - (17n-5)
E(n) = 18n - 17n + 5
E(n) = n + 5
Hope this helps :)
