How much would $300 invested at 4% interest compounded monthly be
1 answer:
Answer:
$412.92
Step-by-step explanation:
You are going to want to use the compound interest formula, which is shown below.
<em>P = initial balance </em>
<em>r = interest rate </em>
<em>n = number of times compounded annually </em>
<em>t = time </em>
<em />
The first step is to change 4% into its decimal form:
4% -> -> 0.04
Now plug in the values:
It would be worth $412.92
You might be interested in
<h3>Answer: </h3>
The GCF is 4
The polynomial factors to
==========================================================
Further explanation:
Ignore the x terms
We're looking for the GCF of 12, 4 and 20
Factor each to their prime factorization. It might help to do a factor tree, but this is optional.
- 12 = 2*2*3
- 4 = 2*2
- 20 = 2*2*5
Each factorization involves "2*2", which means 2*2 = 4 is the GCF here.
We can then factor like so
The distributive property pulls out that common 4. We can verify this by distributing the 4 back in, so we get the original expression back again.
The polynomial inside the parenthesis cannot be factored further. Proof of this can be found by looking at the roots and noticing that they aren't rational numbers (use the quadratic formula).