45^3 is 45 times 45 times 45. The answer is 91 125.
Answer:
Yes, she should.
Step-by-step explanation:
5% may not seem like a lot. Lets say she deposits $20 per month. That's $240 a year. Lets also say you keep this for 6 years, you'll have $72 from interest. The more amount she puts in the more she'll gain.
First, converting R percent to r a decimal
r = R/100 = 5%/100 = 0.05 per year,
then, solving our equation
I = 240 × 0.05 × 6 = 72
I = $ 72.00
The simple interest accumulated
on a principal of $ 240.00
at a rate of 5% per year
for 6 years is $ 72.00.
3/4 is 75%
for this think of them as quarters 4 quarters is 100 %, 2 quarters is 50% so 3 quarters would be 75%
or you could just do 3 divided by 4 then times that by 100
Answer:
$36.75
Step-by-step explanation:
The amount of interest payable is given by ...
I = Prt = $2100·0.07·(3/12) . . . . . . . . t is in years
I = $36.75
The bank earned $36.75 on the loan.
Since only the principal value, interest rate and interest period are given, we can deduce that "finance charge" only includes the interest to be paid at the end of the term. This can be obtained by subtracting the principal value from the future value which we will solve for.
The future value can be solved by using the following compound interest formula:
Let:
F = Future value
P = Principal value
r<span> = annual interest rate </span>
n<span> = number of times that interest is compounded per year</span>
t<span> = number of years</span>
F = P(1 + r/n)^nt
Substituting the given values:
F = 4250(1 + 0.1325/12)^(12*2)
F = 5531.54
Subtracting P from F:
Finance charge = 5531.54 - 4250 = 1281.54
Therefore the finance charge is $1,281.54
