First, we calculate for the effective interest given the
annual interest and the condition that it is compounded monthly.
<span> Ieff = (1
+ 0.0925/12)^12 – 1 = 0.09652</span>
The equation that would best represent the value of
Grace’s money after x years is equal to,
<span>
An = ($1000)(1.09652)^x</span>
<span>Where x is the number of years</span>
Answer:
$86.60
Step-by-step explanation:
1. Subtract 8-3=5
2. Multiply 3*8.95=$26.85
3. Multiply 5*11.95=$59.75
4. Add $26.85+$59.75=$86.60
Answer:
2x
Step-by-step explanation:
because we need to make it equal