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Answer:
blank #1 is $588.00
blank #2 is approximately 870 bananas
Using compound interest, it is found that:
a) Pietro will have $1,719.49 in his account after 5 years.
b) The interest rate is of 8.19%.
<h3>What is compound interest?</h3>
The amount of money earned, in compound interest, after t years, is given by:
In which:
- 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.
- t is the time in years for which the money is invested or borrowed.
Item a:
- Investment of 1500 euros, hence .
- Interest rate of 2.75%, compounded half-yearly, hence .
- 5 years, hence .
Then:
Pietro will have $1,719.49 in his account after 5 years.
Item b:
- Amount increases by 1.5 times, hence
- Investment of 1500 euros, hence .
- Compounded quarterly, hence .
- 5 years, hence .
Then:
The interest rate is of 8.19%.
To learn more about compound interest, you can take a look at brainly.com/question/25781328
Answer:
I'm guessing -3 .....not sure though sorry ...