Firstly, solve the effective annual interest (ieff) with the equation,
ieff = (1 + i/m)^m -1
where i is the interest rate and m is the number of times the interest is compounded in a year. In this problem, m is 12
Substituting the values,
ieff = (1 + 0.034/12)^12 - 1 =0.03453
To solve for the future (F) amount of the present investment (P),
F = P x (1 + ieff)^n
where n is number of years.
F = ($742) x (1 + 0.03453)^15
Thus, the answer is $1234.76.
Answer:
Some 224 people were in favor of the expansion.
Step-by-step explanation:
Given that, according to the recent poll, 22 1/4% of the people polled said that they approved of the city plan to expand the library, if 1004 people was polled, to determine how many were in favor of the expansion should be done the following calculation:
1/4 = 0.25
100 = 1004
22.25 = X
1004 x 22.25 / 100 = X
223.39 = X
Thus, some 224 people were in favor of the expansion.
Answer:
the volume is 60 cm cubed
Step-by-step explanation:
(5 x 8) / 2 x 3
5 x 8 = 40
40 / 2 = 20
20 x 3 = 60
<span>1 hundreds + 5 tens + 12 ones
= 100 + 50 + 12
= 162</span>
Answer:
20 CDs
Step-by-step explanation:
Assuming you can't buy 1 CD, you have to buy 2 CD's for 15.95, let's see how many 2CD-Batches we can buy with 60:
60/15.95 = 3.76 CD batches
We can't buy the fractional amount, so we have to buy "3" 2-CD-Batches.
Thus, we will have 3 * 2 = 6 CD's now
Since we had 14 and now we buy 6, we will have
14 + 6 = 20 CDs now.
20 CDs
