The compound interest formula is
FV=P(1+(r/n))^n*t
FV= future value
P= principal or amount of $ deposited
r= annual interest rate in decimal form
n= number of times compounded per year
t= time in years
Therefore 8000(1+(.12/12))^12*7 which equals $18453.78
Answer:
A
Step-by-step explanation:
based on exonent rule (#^x)^y=#^xy
Answer:
Ellen will pay $16.22 for the book.
Step-by-step explanation:
Part 1:
We know that the book Ellen wants to buy has a normal price of $18. However, there is a 15% discount. So, let's calculate 15% of $18.
18 x 0.15 = $2.70
This lets us know that there is a $2.70 discount.
Now, let's subtract the discount from the regular price.
18 - 2.70 = $15.30
So, now we know the discounted price is $15.30
Part 2:
We also know that Ellen has to pay 6% sales tax. The discounted price is 100% of the price, plus 6% is 106%. Let's calculate the tax to figure out the total amount.
15.30 x 1.06 = $16.22 when rounded to the nearest cent.
Therefore, Ellen will pay the total amount of $16.22.
Equations and Inequalities - Two-step equations and inequalities - First Glance. It takes two steps to solve an equation or inequality that has more than one operation: Simplify using the inverse of addition or subtraction. Simplify further by using the inverse of multiplication or division.