Answer:
23.68
Step-by-step explanation:
74% = 74/100
·
= 23.68
Step-by-step explanation:
5, 5, 8, 16, 17, 18
the mode = 5
the median = (8+16)/2 = 24/2 = 12
We have been given that an account is opened with a balance of $3,000 and relative growth rate for a certain type of mutual fund is 15% per year.
In order to tackle this problem we have to find the value of mutual fund after 5 years. For our purpose we will use compound interest formula.
,where A= amount after t years, P= principal amount, r= interest rate (decimal) and t= number of years.
After substituting our given values in above formula we will get
Now we will solve for A
Therefore, after 5 years mutual fund is worth $6034.07.
Answer:
$22843.75
Step-by-step explanation:
I'm assuming that $18.275 is $18,275
First, converting R percent to r a decimal
r = R/100 = 5%/100 = 0.05 per year,
then, solving our equation
I = 18275 × 0.05 × 5 = 4568.75
I = $ 4,568.75
The simple interest accumulated
on a principal of $ 18,275.00
at a rate of 5% per year
for 5 years is $ 4,568.75.