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Whitepunk [10]
3 years ago
8

Todd hired a handyman to replace some tiles in his bathroom. He paid him $24 per hour of work and $15 as a tip.

Mathematics
1 answer:
Citrus2011 [14]3 years ago
4 0
He paid him : 24t + 15

for 3 hrs...
24(3) + 15 = 72 + 15 = $ 87
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Answer:

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Step-by-step explanation:

Compound interest:

The compound interest formula is given by:

A(t) = P(1 + \frac{r}{n})^{nt}

Where A(t) is the amount of money after t years, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per year and t is the time in years for which the money is invested or borrowed.

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This means that P = 1000, r = 0.048, n = 12. So

A(t) = P(1 + \frac{r}{n})^{nt}

A(t) = 1000(1 + \frac{0.048}{12})^{12t}

A(t) = 1000(1 + 0.004)^{12t}

A(t) = 1000(1.004)^{12t}

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A(2) = 1000(1.004)^{24} = 1100.55

You will have $1,100.55 in the account after 2 years.

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