3. Describe the solution to the equation.

Mathematics

1 answer:

Law Incorporation [45]3 years ago

4 0

I don’t really know? What grade is this?

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Please help me and include an explanation !!

natita [175]

Answer:

202

Step-by-step explanation:

I dont know how to quite explain this but there is your answer ! Hopefully someone else explains this to you so you can understand ^^

3 0

3 years ago

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Calculate the future value of an investment of $2300, after 7 months, earning 6.6% APR, compounded monthly, by compounding manua

miskamm [114]

The future value of an investment, P after n years at an APR of r% compounded t times a year is given by
$FV=P\left(1+ \frac{r}{t} \right)^{nt}$

Given <span>an investment of $2300, after 7 months, earning 6.6% APR, compounded monthly, the future value is given by
$FV=2,300\left(1+ \frac{0.066}{12} \right)^{12\left( \frac{7}{12}\right) } \\ \\ =2,300(1+0.0055)^7=2,300(1.0055)^7 \\ \\ =2,300\times1.03914=\$2,390.02$ </span>