Answer:
30% increase
Step-by-step explanation:
30 is 30 percent of 100 so the answer is 30 percent increase
Hello kiddio lets figure this out!
The formula for simple interest is I = P*R*T where I = interest, P = Principal (original amount), R is the rate as a decimal, and T is time in years. So I = 1500*(.05)*6 = 1500*(0.30) = $450. The total amount you have after 6 years is the amount you started with ($1500) plus the interest ($450) which is $1950. The formula for yearly compounding is A = P(1 + r)t where A = Accumulated or final amount P = Principal ($1500) r = interest rate as a decimal (0.05)t = time (6 years) A = 1500*(1 + 0.05)6 = 1500*(1.05)6 = $2010.14
Have a nice day
A) V = P + PRT
<span>
V=P(1+RT)
P=A/(1+RT)
P = 6000 / (1 + .08 X 7)
P = 6000 / 1.56
P = $3,846.15</span>
