Answer:
$176.3193692 or $176.32 (rounded to two decimal places)
Step-by-step explanation:
It is a compound interest, which means the interest accumulates on an initial amount each period.
The formula is A=P(1+R)^n
A= the total amount P=initial amount R=rate n=time (years)
P=$120 Rate= 8% or 0.08 (decimal) n=5 (years)
A=120 (1+0.08)^2
A=120 (1.469328077)
A= 176.3193692
Answer:
69824.21
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Step-by-step explanation:
The amount of $7389.43 has to be invested at 5.9% interested continuously to have $15,000 after 12 years.
Step-by-step explanation:
The given is,
Future value, F = $15,000
Interest, i = 5.9%
( compounded continuously )
Period, t = 12 years
Step:1
Formula to calculate the present with compounded continuously,
...............(1)
Substitute the values in equation (1) to find the P value,
( ∵
)

( ∵
)
We change the P (Present value) into the left side,


≅ 7389.43
P = $ 7389.43
Result:
The amount of $7389.43 has to be invested at 5.9% interested continuously to have $15,000 after 12 years.
Answer:
DEF
Step-by-step explanation:
The other triangle is a reflection
Um.... 368 369 370 371 372 372 374 375 376 377 378 379 etc