Answer:
Step-by-step explanation:
Answer:
An inverse operation is two operations that undo each other e.g. addition and subtraction or multiplication and division. You can perform the same inverse operation on each side of an equivalent equation without changing the equality. This gives us a couple of properties that hold true for all equations.
Answer:
<em>Keisha will owe $18444.32 after 9 years</em>
Step-by-step explanation:
<u>Compound Interest</u>
It occurs when the interest is added to the principal rather than paying it in.
It basically means paying interest over 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
Keisha borrowed P = $8000 at a rate of r = 9.5% = 0.095 (assumed annual rate) compounded semiannually (twice a year).
If she makes no payments, the amount she owes increases over time. After t = 9 years, we can calculate the amount owed by using the above formula.
Please, note that since there are 2 compounding periods per year, n = 2, thus:
Operating:
A = $18444.32
Keisha will owe $18444.32 after 9 years