Solution:
Principal =P= $ 7,500
Option A→(Simple interest)
Rate of interest= R=4%
Time(
)=4 years
Time(
)=6 years
Amount= Principal + Interest(Simple or compound interest)
Formula for Simple interest


Total amount after 4 years when interest is simple= 7500 +1200= $ 8700
Total amount after 6 years when interest is simple= 7500 +1800= $ 9300
Option B
Formula for amount(A) when interest is 3.15% compounded annually.



Total amount after 4 years when interest is compounded annually=$ 8491 (approx)
Total amount after 6 years when interest is compounded annually=$ 9034(approx)
Answer:
Anita Bath's home was worth $ 593,195.62 in 2007.
Step-by-step explanation:
Given that from 1992 to 2007 the average home price increased by 8% per year, and in 1992 Anita Bath bought a house for $ 187,000, to determine what was it worth in 2007 the following calculation must be performed:
2007 - 1992 = 15
187000 x 1.08 ^ 15 = X
187000 x 3.172 = X
593,195.62 = X
Therefore, Anita Bath's home was worth $ 593,195.62 in 2007.
The answer would be -5 1/4
Answer:

Step-by-step explanation:
