Answer:
Step-by-step explanation:
we know that
The compound interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
substitute in the formula above
Answer:
1: $1200
2: Food ($6000)
3: $3000
4: $1800
5: $3000
Step-by-step explanation:
1: 10%*12000 = 1200
2: Food 50%*12000 = 6000
3: 25%*12000 = 3000
4: 15%*12000 = 1800
5: Food - Education = 6000 - 3000 = 3000
26.916278062 is the answer