A = P(1 + rt)
Where:
<span>·
</span>A = Total Accrued Amount (principal + interest)
<span>·
</span>P = Principal Amount
<span>·
</span>I = Interest Amount
<span>·
</span>r = Rate of Interest per year in decimal; r = R/100
<span>·
</span>R = Rate of Interest per year as a percent; R = r * 100
<span>·
</span>t = Time Period involved in months or years
A = 15,000(1+ 0.07(5))
A = 20,250 they acquired in total for 5 years
The yearly amount the get is 15,000 xx 0.07 = $ 1050 per
year
So in the next 25 years addition of 1050x25 = $26250 they
will get
Step-by-step explanation:
steps are in the picture above.
<h3><u>N</u><u>o</u><u>t</u><u>e</u><u>:</u><u>i</u><u>f</u><u> </u><u>y</u><u>o</u><u>u</u><u> </u><u>n</u><u>e</u><u>e</u><u>d</u><u> </u><u>t</u><u>o</u><u> </u><u>a</u><u>s</u><u>k</u><u> </u><u>a</u><u>n</u><u>y</u><u> </u><u>question</u><u> </u><u>please</u><u> </u><u>let</u><u> </u><u>me</u><u> </u><u>know</u><u>.</u></h3>
2/6, 3/9, 4/12, 5/15, 6/18 ect.
Hope this helped!