The amount of money he will be able to withdraw after 10 years after his last deposit is $926,400.
<h3>Compound interest</h3>
- Principal, P = $2,000 × 12 × 4
= $96,000
- Time, t = 10 years
- Interest rate, r = 24% = 0.24
- Number of periods, n = 2
A = P(1 + r/n)^nt
= $96,000( 1 + 0.24/2)^(2×10)
= 96,000 (1 + 0.12)^20
= 96,000(1.12)^20
= 96,000(9.65)
= $926,400
Therefore, the amount of money he will be able to withdraw after 10 years after his last deposit is $926,400
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The wife made 33,500 and the husband made 29,500
Step-by-step explanation:
X= raspberry
X = 600 ÷ 11 = 54 batches
[ 60 minutes = 1 hour]
[600 minutes = 10 hours]
Y = peach
Y = 600 ÷ 8 = 75 batches
