The formula for compound interest is the following:
A=P(1+r/n)^nt
A=accumulated amount (what we're looking for)
P=Principal amount (initial amount). $800 in this case
r=rate. 0.09 in this case which we get from converting 9% to decimal by dividing by a 100.
n=number of times interest is compounded. In this case semi-annually which means 2
t=time. In this case 4 years
Let's calculate:
A=800(1+0.09/2)^(2*4)
A=800(1+0.045)^8
A=800(1.045)^8
A=800(1.42210061284)
A=1137.68049027
Let's round to the hundredth place (to represent cents) since the amount represents money.
Answer=The balance after 4 years will be $1,137.68
+13
would be your answer... to show the growing
He can travel 558 miles. You divide 155 by 5 then multiply that by 18.
Step-by-step explanation:
9x+6x=135
15x=135
x=9
9x=81
6x=54