The answer of the question is B
Answer:
The principal investment required to get a total amount of $ 1,000,000.00 from compound interest at a rate of 6% per year compounded 12 times per year over 45 years is $ 67,659.17.
Step-by-step explanation:
Given
- Accrued Amount A = $1000000
- Interest rate r = 6% = 0.06
- Compounded monthly n = 12
To determine:
Using the formula


substituting A = 1000000, r = 0.06, t = 45, and n = 12


$
Therefore, the principal investment required to get a total amount of $ 1,000,000.00 from compound interest at a rate of 6% per year compounded 12 times per year over 45 years is $ 67,659.17.
Answer:

General Formulas and Concepts:
<u>Pre-Algebra</u>
- Order of Operations: BPEMDAS
<u>Algebra I</u>
- Slope Formula:

Step-by-step explanation:
<u>Step 1: Define</u>
Point (2, -1)
Point (6, -1)
<u>Step 2: Find slope </u><em><u>m</u></em>
- Substitute:

- Add/Subtract:

- Divide:

Answer: 2.0
Step-by-step explanation:
To round 1.965 to the nearest tenth consider the hundredths’ value of 1.965, which is 6 and equal or more than 5. Therefore, the tenths value of 1.965 increases by 1 to 0.
1.965 rounded to the nearest tenth = 2.0