Solve the equation 7j=11 Enter each line of working as an equation.
1 answer:
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Answer:
15,894.06
Step-by-step explanation:
HI there!
This is a compound interest question, so we will use the formula
P being our principle amount, $15,000 in this case,
R being our rate, or 1.25
N being our compound rate, which is semiannually, or twice a year.
T is our time, being 3.
After plugging these values in, we get
15,894.06
I hope this helps!