Step-by-step explanation:
The formula for compound interest is
P = I (1 + r/n)^nt
where
P: the total amount of money in the account after a certain amount of time
I: the principal amount
r: the interest rate as a decimal
n: the number of times a year interest is compounded
t: the number of years passed
For Patrick:
P = 200 (1 + 0.02/12)^12*8
P = 200 (1 + 0.00166667)^96
P = 200 (1.00166667)^96
P = 200 * 1.00166667^96
P = $234.67
For Brooklyn:
P = 200 (1 + 0.04/4)^4*8
P = 200 (1 + 0.01)^32
P = 200 (1.01)^32
P = 200 * 1.01^32
P = $274.99
After 8 years, Patrick has $234.67 and Brooklyn has $274.99
Answer:
no
Step-by-step explanation:
no
Answer:
3.5 cookies
Step-by-step explanation:
Hi there!
Well, assuming they get the same amount of cookies, you'd do 7/2..
7/2=3.5
So they'd each get 3.5 cookies.
Have a great day! ^u^
Answer:
<u>45</u>
Step-by-step explanation:
2(3-2)=2
43+2=45
0.35 = 35/100.
Can be simplified. Divide by 5.
= 7/20