Principal, $3000; Annual interest rate, 5.7%, 5 years
1 answer:
Answer:
$3,958.19
Step-by-step explanation:
You are going to want to use the compound interest formula, which is shown below.
<em>P = initial balance </em>
<em>r = interest rate </em>
<em>n = number of times compounded annually </em>
<em>t = time </em>
Lets plug in the values into the equation:
= 3,958.19
Your final answer is $3,958.19
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Answer:
Winchester Heights Middle School plan to have 385 students in the upcoming school year.
Step-by-step explanation:
Total number of students in the seventh grade at Winchester Heights Middle School = 350
For the upcoming school year, they are planning to increase the number of seventh graders by 10%.
Rate of increase = r = 10% = 0.1
Formula :
Where = initial population = 350
r = rate of increase =0.1
N(t)=Population after t years
t = time in years
So, Population after 1 year =
Hence Winchester Heights Middle School plan to have 385 students in the upcoming school year.