A millennium is 1000 years.
Multiply the number of seconds in 1 year by 1000:
31,536,000 x 1,000 = 31,536,000,000 seconds.
S= R- 1/3R
The first problem s=18 r-= 6
This is how it works
Use S-= R-1/3R
12= 18-1/3(18)
12= 18-6
12=12
Answer:
Yes
Step-by-step explanation:
Answer:
Step-by-step explanation:
$1000×1.04⁵ ≅ $1216.65
interest ≅ $216.65
Due to the difference in the interest rate and the quarterly compounding, Joshua will have $212.24 more than Josiah.
Step-by-step explanation:
Giving the following information:
Joshua:
Initial investment (PV)= $750
Interest rate (i)= 0.0341/4= 0.008525
Number of periods (n)= 18*4= 72 quarters
Josiah:
Initial investment (PV)= $750
Interest rate (i)= 0.0285
Number of periods (n)= 18 years
To calculate the future value of each one, we need to use the following formula:
FV= PV*(1 + i)^n
Joshua:
FV= 750*(1.008525^72)
FV= $1,381.98
Josiah:
FV= 750*(1.0285^18)
FV= $1,169.74
Due to the difference in the interest rate and the quarterly compounding, Joshua will have $212.24 more than Josiah.
