Answer:
<em>A = $5183.36</em>
Step-by-step explanation:
<u>Compound Interest</u>
It occurs when the interest is reinvested rather than paying it out. Interest in the next period is then earned on the principal sum plus previously accumulated interest.
The formula is:
Where:
A = final amount
P = initial principal balance
r = interest rate
n = number of times interest applied per time period
t = number of time periods elapsed
Abdul deposited P=$4000 into an account with r=2.6% = 0.026 compounded quarterly. Since there are 4 quarters in a year, n=4. We are required to calculate the amount in the account after t=10 years.
Applying the formula:
A = $5183.36
<span>3 is to 4 as 12 is to x, or 3/4 = 12/x </span>
Answer:
7 5/6
Step-by-step explanation:
16 2/3 - 8 5/6
16 4/6- 8 5/6
7 5/6
Answer:
3x + 6
Step-by-step explanation:
It's A because x + x + x = 3x and 2+2+2 = 6
The formula that calculates the compound rate from the given values is
<h3>How to determine the compound interest rate?</h3>
The compound interest formula is:
Where:
- P represents the principal amount
- r represents the compound interest rate
- n represents the number of times the interest is compounded
- t represents the time in years
- I represents the interest
We start by adding P to both sides
Divide through by P
Take the nt-th root of both sides
Subtract 1 from both sides
Multiply through by n
In this case, t = 10
So, we have:
Hence, the formula that calculates the compound rate is
Read more about compound interest at:
brainly.com/question/13155407
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