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
Step-by-step explanation:
All steps are in pic above.
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<u><em>Answer:</em></u>
- 84x - 70
<em><u>Step-by-step explanation:</u></em>
We want to combine like terms:
-10 - 90x + 6x - 60
We can see (-10) and (-60) are both regular constants so:
- 10 - 60 = - 70
Then (-90x) and (+ 6x):
6x - 90x = - 84x
- 84x - 70
