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Tasya [4]
3 years ago
8

tony cashed a check for $673 at quick cash .the fee to cash a check is11% of the amount of the check. how much did tony pay to c

ash his check?
Mathematics
1 answer:
murzikaleks [220]3 years ago
4 0
673 x .11 (11%) - 74.03

Tony paid $74.03 to cash his check. 
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Answer:

The future value of this initial investment after the six year period is $2611.6552

Step-by-step explanation:

Consider the provided information.

A student desired to invest $1,540 into an investment at 9% compounded semiannually for 6 years.

Future value of an investment: FV=P(1+r)^n

Where Fv is the future value, p is the present value, r is the rate and n is the number of compounding periods.

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Therefore, the value of r is: r=\frac{0.09}{2}=0.045

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Hence, the future value of this initial investment after the six year period is $2611.6552

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\huge\mathcal\colorbox{red}{\color{pink}{ᶛɲƧཡэʀ}}

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