Answer:
numerical
Step-by-step explanation:
i guess not sure though
Answer:
6(3d+2)
Step-by-step explanation:
Answer:
Will earn $74.38 in interest or for the total $924.38 for the total amount accrued, principal plus interest
Step-by-step explanation:
I = p x rt
I = 850 x 0.035 x 2.5 = 74.38 (interest)
P' = p + I = 850 + 74.38 = 924.38
Answer:
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.
