Answer:
The certificate will be worth $5,559.92 on Ruth's 19th birthday.
Step-by-step explanation:
The compound interest formula is given by:
Where A is the amount of money, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per unit t and t is the time the money is invested or borrowed for.
In this problem, we have that:
So
The certificate will be worth $5,559.92 on Ruth's 19th birthday.
Answer:
Step-by-step explanation:
Answer:
A) The fraction of sum of money did each child receive is
B) The sum of money did Jeff have $ 3200
Step-by-step explanation:
Given as :
Let The sum of money did Jeff have = $ x
The fraction of money did Jeff's wife get = of $ x
The remaining money Jeff will have = $ x - of $ x
I.e The remaining money Jeff will have =
=
A ) The remaining amount of money is divided equally among 4 children
So, The fraction of sum of money did each child receive =
I.e The fraction of sum of money did each child receive =
B ) If each child will receive $ 600
∴, = $ 600
Or, 3 x = $ 600 × 16
Or, 3 x = $ 9600
∴ x =
I.e x = $ 3200
So, The sum of money did Jeff have $ 3200
Hence ,
A) The fraction of sum of money did each child receive is
B) The sum of money did Jeff have $ 3200 Answer