Answer:
Jim will be paid $150 or 30% to his account.
Step-by-step explanation:
Have a great day :)
What idk jk sorry trying to be funny like always but what is the question I have no picture
Answer:
Results are below.
Step-by-step explanation:
Giving the following information:
Principal (P)= $2,500
Interest rate= 4%
Number of periods= 2 years
<u>First, we will determine the interest earned using the simple interest formula:</u>
I= P*r*t
I= 2,500*0.04*2
I=$200
<u>Now, using the compound interest formula:</u>
I= [P*(1 + r)^t] - P
r= 0.04/2= 0.02 (semi annual interest rate)
t=2*2= 4 semesters
I= [2,500*(1.02^4)] - 2,500
I= $206.08
The answer:
it would take 9 years for the account to grow to $12,700
the steps:
10,000 x .03 = 300
2,700 divided by 300 is 9
