Answer:
$ 8,695.35
Step-by-step explanation:
This is a compound interest question
Amount after t years = A = P(1 + r/n)^nt
Where P = Initial Amount saved
r = interest rate
t = time in years
n = compounding frequency
A = 10,000
r = 3.5 %
t = 21 - 17 = 4 years
n = Compounded monthly = 12
Step 1
Converting R percent to r a decimal
r = R/100 = 3.5%/100 = 0.035 per year.
P = A / (1 + r/n)^nt
Solving our equation:
P = 10000 / ( 1 + (0.035/12)^12 ×4 =
P = $8,695.35
The principal investment required to get a total amount, principal plus interest, of $10,000.00 from interest compounded monthly at a rate of 3.5% per year for 4 years is $8,695.35.
Answer:
16.75
Step-by-step explanation:
Any number to the power 0 is 1.
So 10^0 = 1
Answer:
-77
Step-by-step explanation:
Multiply 11 x 7 first which gives you 77. And since the Negative sign is before 11, which means the product negative always, it will be -77!
hope this helped!
Answer:
n = 13
Step-by-step explanation:
1/5(n + 3) + 4 = 3/10(2n - 2)
~Simplify both sides
1/5n + 3/5 + 4 = 3/5n - 3/5
~Combine like terms
1/5n + 23/5 = 3/5n - 3/5
~Subtract 23/5 to both sides
1/5n = 3/5n - 26/5
~Multiply 5 to both sides
n = 3n - 26
~Subtract 3n to both sides
-2n = -26
~Divide -2 to both sides
n = 13
Best of Luck!
