Cut 5 equal sections from a 2 foot long ribbond
It is 838
Step-by-step explanation:
It would be .546% increase per year. You divide 292662.70 by 268000 and get 1.092025 and then divide by 2 for the years and get .546. Hope this helps
Compound Interest Formula: A = P(1 + r/n)^(n·t)
A = final amount r = rate, as a decimal (.021) t = number of years (17)
P = initial amount (2914.72) n = number of times compounded per year (365)
A = 2914.72(1 + .021/365)^(365·17) = $4165.20
Interest earned: $4165.20 - $2914.72 = $1250.48 <----- Answer
You might want to recalculate this, attempting to handle leap years, by replacing the number of times compounded per year with 365.25 and see if that has an effect
