After 6 years the investment is $5555.88
Step-by-step explanation:
A principal of $3600 is invested at 7.5% interest, compounded annually. How much will the investment be worth after 6 years?
The formula used to find future value is:
where A(t) = Accumulated amount
P = Principal Amount
r = annual rate
t= time
n= compounding periods per year
We are given:
P = $3600
r = 7.5 %
t = 6
n = 1
Putting values in formula:
So, After 6 years the investment is $5555.88
Keywords: Compound Interest formula
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Answer:
x=2
y=4
3 times 4 equals 12 and 2 plus 4 would equal six
Answer:
-6x-5
Step-by-step explanation:
remove the parentheses
collect the like terms (-x and -5x, -3 and -2)
evaluate
14 = 31.7 - 3x
-17.7 = -3x
x = 5.9
Option C: 600 shares worth $16.67 each is the correct answer
Step-by-step explanation:
In the share market, a 2 to 3 split(mentioned in the question) means that the share holders get one half of already owned shares and the price of each share declines by one-third.
Given
Jim's shares = s = 400
Price per share =p = $25
First of all we will calculate the new shares:
Let sn be the number of new shares
As explained above
Now the news price will be:
The new number of shares will be 600 and the price of each share will be: $16.67
Hence,
Option C: 600 shares worth $16.67 each is the correct answer
Keywords: Shares, 2-to-3 split
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