Answer:
Total amount that Matthew's bank will receive is $10099.81.
Step-by-step explanation:
We need to find the amount Matthew's bank will receive after lending him $8,000 for four years at an interest rate of 6 percent, compounded annually.
The formula for compound interest is:
Where A = future value
P= Principal Amount
r = interest rate
and n= time
So in the question we are given:
P= $8000
r = 6% or 0.06
t = 4 (since 4 yeras compounded annually)
A= 8000*(1+0.06)^4
A= 8000*(1.06)^4
A= 10099.81
So, total amount that Matthew's bank will receive is $10099.81.
The square root of 16 is 4
Answer:
See below in bold.
Step-by-step explanation:
As we see from the diagram the x -intercept ( where the line intercepts the horizontal x-axis) is (3, 0) and the y-intercept is (0, -10).
Answer:
A) 5km, 25km B) 2.5km, 12.5km
Step-by-step explanation:
A)Claire runs 10 km in 1 hour.
she runs 10/2=5km in 1/2 hour.
in 2 1/2, she runs 10*2 1/2=25km
B)Malia runs 5 miles in 1 hour.
she runs 5/2=2 1/2km in 1/2 hour.
in 2 1/2, she runs 5*2 1/2=12 1/2km
Answer:
The approximate value of the investment in one year is 4183.
Step-by-step explanation:
The formula for finding the compound interest for one year that compounded quarterly is :
Here,
P - Principal = 4000
r - 4.5%
t - 1
Therefore,
= 4183.08
Hence, the approximate value of the investment in one year is 4183.
