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3 years ago

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One thing that happened was that the Ottomans decided on slaughtering most of the current aristocracy that was in place before they came - which was logical for them as they didn't want the previous monarchs to interfere with their rule. On the other hand they treated farmers better and they had more rights than before. They could also marry between religions if they wanted to. They also had the same cultural rights as before.

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The Nelson family invests $6,000 into an account that earns 4.85% annual interest. They deposit an additional $175 each month. A

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The amount after five years is calculated by compound interest to be $19733 and it can pay for the first year of college.

For the first year;

Initial money invested = $6,000

Money deposited monthly throughout the year = 12 × $175 = $2100

Total principal = $6,000 + $2100 = $8,100

Interest = $8,100 × 4.85 × 1/100 = $392.85

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Principal = $ 10592.85 + $ 513.75 + $2100 = $13206.6

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Fifth year;

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Interest = $18820.5 × 4.85 × 1/100 = $912.8

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