The amount gotten after $1689 invested for 4 years at 3% compounded annually is $1901
The amount of money gained after an investment is compounded is given by:
Where P is principal, A is the final amount, r is the rate, n is the number of times compounded per period and t is the time
Given that P = $1689, t = 4, r = 3% = 0.03, n = 1, hence:
The amount gotten after $1689 invested for 4 years at 3% compounded annually is $1901
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Answer:
15,000$
Step-by-step explanation:
According to the information given, profits are divided equally into 4 parts
Since the total profit for the first month is 100,000$ each party will receive a sum of 25,000$. This means that Y also receives the same amount
Now if the profits were divided in proportion to the investments made we first find the proportion on investment made by Y.
The total investment made is 6000$ + 2000$ + 8000$ + 4000$ = 20,000$. Out of this, the amount invested by Y is 8000$
finding the proportional profit of Y
=40,000$
So Y receives 40,000 - 25,000 = 15,000 less
