Jackie is selling packs of cookies for a fundraiser. Each box of cookies costs $6. She sells 12 boxes of cookies on Monday, 16 b
1 answer:
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Answer:
Part a
For this case n = 4. If we use the future value formula we got:
Part b
For this case n = 365. If we use the future value formula we got:
Step-by-step explanation:
We can use the future vaue formula for compound interest given by:
Where P represent the present value, r=0.0675 , n is the number of times that the interest is compounded in a year and t the number of years.
Part a
For this case n = 4. If we use the future value formula we got:
Part b
For this case n = 365. If we use the future value formula we got: