The balance B at the end of time t is given by
B = P +Prt
8250 = 6000 +6000*r*12.5 . . . . substitute the given information
2250 = 6000*r*12.5 . . . . . . . . . . .subtract 6000
2250/(6000*12.5) = r . . . . . . . . . .divide by the coefficient of r
r = .03 = 3%
Clint earned 3% annual simple interest on his savings.
Step-by-step explanation:
option C is correct....
$394.51 is future value of money after 2 years.
What future value means?
- A current asset's future value (FV), which is based on an estimated rate of growth, is its value at a later time.
- Investors and financial planners use the future value to project how much an investment made now will be worth in the future.
The method that results in more money after 2 years is Peggy's investment.
Which method results in more money in 2 years?
The formula for calculating the future value of an investment:
FV = P (1 + r)^nm
FV = Future value
P = Present value
R = interest rate
m = number of compounding
N = number of years
Future value of Larry's investment: $350 x [1 + (0.04/4)]^(4 x 2) = $379
Future value of Peggy's investment: $350 x [1 + (0.06/12)]^(12 x 2) = $394.51
Learn more about future value
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Answer:
Step-by-step explanation:
length = 120/8 = 15 feet
perimeter = (15 + 8) x 2 = 46 feet
It’s kinda blurry, can u retake it
