= $ 32,275.00
Equation:
A = P(1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 4.85%/100 = 0.0485 per year,
putting time into years for simplicity,
24 quarters ÷ 4 quarters/year = 6 years,
then, solving our equation
A = 25000(1 + (0.0485 × 6)) = 32275
A = $ 32,275.00
The total amount accrued, principal plus interest,
from simple interest on a principal of $ 25,000.00
at a rate of 4.85% per year
for 6 years (24 quarters) is $ 32,275.00.
The graph with an equation y = 6x has a slope of 6. If the slope is changed to 0, the equation becomes y = 0.
<h3>What is a
linear function?</h3>
A linear function is in the form:
y = mx + b
Where m is the slope (rate of change) and b is the y intercept
The graph with an equation y = 6x has a slope of 6. If the slope is changed to 0, the equation becomes y = 0.
Find out more on linear function at: brainly.com/question/4025726
Answer:
Step-by-step explanation:
The answer depends on whether the interest is simple or compound.
For simple interest:
A = 670(1 + 0.08)(24)
For compound interest
A = 670(1 + 0.08)24