1. Pilar and her sister Marisol live near the beach. Pilar has 80 seashells in her collection when Marisol started collecting se
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we have that
Let
we know that
so
Is a geometric sequence
Find the value of
Find the value of
Find
therefore
the answer is
Alternative Method
Applying the formula
therefore
the answer is
Answer:
$3628.24
Step-by-step explanation:
we use the formula for accrued value (A) with compounded interest:
where A= accrued value (principal plus the accumulated interest)
P = principal -> in our case $6000
r = annual interest rate (in decimal form) -> in our case 0.06
n = number of compoundings per year. In our case 2 (semiannually)
t = time in years -> in our case 8
Since this is the value of principal plus accumulated interest, we subtract from it the principal ($6000) to get the value of just the interest:
$9628.24 - $6000 = $3628.24