Answer: $2936.27
Step-by-step explanation:
Present value = $1663
Rate = 5.5%
Time(n) = 19years
Future value= PV(1+r)^n
= 1663(1+5.5%)^19
= 1663(1.055)^19
=1663 × 2.766
=4599.86
Interest = Future value - Present value
= $4599 - $1663
= 2936
Since we're doing compound interest for four years it will be simpler than daily.
In case you didn't know the formula, here it is: A = P (1 +r/n)^(nt)
now lets substitute.
A = 500 (1 + 0.03)^4
A = 500 (1.03)^4
A = 500 (1.12550881)
A = 562.754405
Since that decimal is too big for cash, let's round it. Notice that the number after 5 is lower than 5. Thus the first two numbers stay the same and the final answer will be..
A = 562.75
Hope this helps :3
Answer:
no 2. cube a' will be smaller because it was multiplied by a fraction
no 3. c
