Mr. and Mrs. Bailey need to invest $2906.50 so as to send their son to college.
<h3>
Compound interest</h3>
Compound interest is given by:

where A is the amount after t years, P is initial amount, r is the rate and n is the times compounded per period
Given that n = 1, r = 9% = 0.09, A = $7500 t = 11. Hence:

Mr. and Mrs. Bailey need to invest $2906.50 so as to send their son to college.
Find out more on Compound interest at: brainly.com/question/24924853
Answer:
5 years
Step-by-step explanation:
In the question we are given;
- Amount invested or principal amount as $5048
- Rate of interest as 4% compounded 12 times per year
- Amount accrued as $6,163.59
We are required to determine the time taken for the money invested to accrue to the given amount;
Using compound interest formula;

where n is the interest period and r is the rate of interest, in this case, 4/12%(0.33%)
Therefore;



introducing logarithms on both sides;

But, 1 year = 12 interest periods
Therefore;
Number of years = 60.61 ÷ 12
= 5.0508
= 5 years
Therefore, it will take 5 years for the invested amount to accrue to $6163.59
Answer:
option K cuz
Step-by-step explanation:
if we take m=7 and n=2
7 + 2= 9
and 9 is an odd number
Answer:
-8
Step-by-step explanation:
You just simplify
Answer:
yes
Step-by-step explanation: