Answer:
interest earned= 292.878
the future value of an annuity= 892.878
Step-by-step explanation:
Given Data:
Interest rate= 5%
time,t = 8 years
Quarterly payment, P= 600
n= 4 as quarterly
At the end of 8 years, final investment A= ?
As per the interest formula
A= P(1+r/n)^nt
= 600(1+0.05/4)^32
= 892.878
Interest earned = A-P
= 892.878-600
= 292.878 !
Answer:
Step-by-step explanation:
<h3>Can I have the brainliest please?</h3>
3 and 2/3 hours.
Multiply the number of hours Dominic spent by the scale factor.
Given nth term of an AP = 7-4n
Put n = 1 then t1 = 7-4(1) = 7-4 = 3
Put n = 2 then t2 =7-4(2) = 7-8 = -1
Common difference = t2-t1 = -1-3 = -4
