We can make and use the equation: <em>A = 160( 1.03 )^y</em>: A = amount, 160 = amount put in, 1 + .03 = 1.03 = interest, and y as the number of years, as the money is compounded every year. (This is the compound interest equation, but I put in the numbers)
A) 160 * 1.03 = $164.80, 160 * 1.03² = $169.744 ≈ $169.74
B) 160 * 1.03⁵ = 185.48385 ≈ $185.48
The expression is the same as saying (((((160 * 1.03)1.03)1.03)1.03)1.03). This is like multiplying 160 * 1.03, which gives the amount for the first year. Then, that amount is multiplied by 1.03, which is the amount for the second year. This isi repeated until 5 years.
C) 160(1.03)³⁰
Answer:
142,180 and 10 and 23 and that it
You cannot simplify the fraction 4/21, because you would have to divide 21 by 4, which would end in a decimal answer, therefore you cannot simplify it.
