Answer:
1: 11982.79
2: 12136.31
4: 12216.09
12: 12270.46
365: 12297.10
Step-by-step explanation:
The compound interest formula is A=P*(1+r/n)^nt
P=principal amount
r=rate
n=number of compounds per period
t=number of periods
In this situation, the principal amount is 5,000=P. The rate is 6%, so r=0.06. n is equal to the top number in the table. And this is 15 years, so t=15.
For 1, it would be A=5,000*(1+.06/1)^1*15, or A=5,000(1.06^15), or 11982.79.
For 2, it would be 5,000*(1+.06/2)^2*15, or 5,000*(1.03^30), or 12136.31.
And so forth. Good luck
Answer:
11 and 6
Step-by-step explanation:
11-6=5 <--- difference
11+6=17 <--- sum
Answer:
2.
Step-by-step explanation:
We let the number of years that the two jobs will have the same payment be denoted as t. Equating the wages of these two jobs after t - 1 years will give us an equation of,
22,000 + 4000(t -1) = 26,000 + 2000(t - 1)
The value of t from the generated equation is 3. Therefore, after 3 years the jobs will be paying the same wages.
