Use the formula A=p(1+r)^n
where
A= value of investment
r= rate
n= time period
p= amount invested
in this question
r= 5.75% but compounded quarterly means divide this by 4
r= 23/1600
n=7*4
n=28
p= $1200
A=1200(1+23/1600)^28
A= $1789.54
Therefore the value of her investment in 7 years is $1789.54
Answer:
$7,986.25
Step-by-step explanation:
We can use the following formula to solve:
<em>P = principal value</em>
<em>r = rate (decimal)</em>
<em>t = time (years)</em>
<em />
First, change 15% into a decimal:
15% -> 
-> 0.15
Since 2015 and 2020 are 5 years apart, we will use 5 for t. Now, plug the values into the equation:
Your car would be worth $7,986.25
We calculate for the taxable income by subtracting the tax free allowance from the gross income.
Taxable income = Gross income - tax free allowanc
Taxable income = (£12,000 - <span>£6,475)
= </span><span>£5,525
Hence, the taxable income is equal to </span><span>£5,525.
Net income:
This would be equal to the gross income minus the amount of taxes to be paid.
Net income = Gross income - amount of tax to be paid
Net income = (</span><span>£12,000) - (0.20)($5,525)
Net income = $10,895
Therefore,
ANSWER: <em>$10,895</em></span>
