Answer:
$176.3193692 or $176.32 (rounded to two decimal places)
Step-by-step explanation:
It is a compound interest, which means the interest accumulates on an initial amount each period.
The formula is A=P(1+R)^n
A= the total amount P=initial amount R=rate n=time (years)
P=$120 Rate= 8% or 0.08 (decimal) n=5 (years)
A=120 (1+0.08)^2
A=120 (1.469328077)
A= 176.3193692
Answer:
545.119
Step-by-step explanation:
75 * (1 + .2/12)^10 * 12
75 * (1.016667)^10*12
Now things get a little tricky. What does 10*12 mean? I'm taking it to mean 120
75 * (1.016667)^120
75 * 7.268
545.119
Answer:
t = -1
Step-by-step explanation:
-4 = 2t - 2
2t = -2
t = -1
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