Jose works 25 hours a week at $12.50 per hour. How many weeks will he have to work to earn $3,437.50?
1 answer:
You might be interested in
Answer:
$1,179
Step-by-step explanation:
Lets use the compound interest formula provided to solve this:
<em>P = initial balance</em>
<em>r = interest rate (decimal)</em>
<em>n = number of times compounded annually</em>
<em>t = time</em>
<em />
First, lets change 2.6% into a decimal:
2.6% -> -> 0.026
Since the interest is compounded quarterly, we will use 4 for n. Lets plug in the values now:
The account balance after 10 years will be $1,179
