1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
liq [111]
3 years ago
10

What would be the value of $150 after eight years if you earn 12 percent interest per year? A. $371.39 B. $415.96 C. $465.88

Mathematics
1 answer:
salantis [7]3 years ago
5 0
<h3>What would be the value of $150 after eight years if you earn 12 % interest per year? A. $371.39 B. $415.96 C. $465.88 </h3>

<em>The compound interest is applied, that is to say, each year the interest produced is accumulated to the outstanding capital and the interest of the next period is calculated on the new outstanding capital.</em>

The formula for calculating compound interest is:

Compound interest = Total amount of Principal and interest in future less Principal amount at present = [P(1 + i)ⁿ] – P

(Where P = Principal, i = nominal annual interest rate in percentage terms, and n = number of compounding periods)

[P(1 + i)ⁿ] – P = P[(1 + i)ⁿ – 1] = $150[(1 + 12/100)⁸ – 1] = $150[(1.12)⁸ – 1] = $150[2.47596317629 - 1] = $150[1.47596317629] = $221.39

Total amount = $150 + $221.39 = $371.39

Answer : A.) $371.39

\textit{\textbf{Spymore}}​​​​​​

You might be interested in
To find the answers
8_murik_8 [283]
1,876,200 - if it's higher than 5 go up - that means 1,880,000

1,876,200 - means 1,900,000
1,876,200 means 2,000,000
    
4 0
3 years ago
Does the graph represent a function? Why or Why Not
Allushta [10]

Answer:

not a function - it does not pass the vertical line test.

Step-by-step explanation:

8 0
3 years ago
Read 2 more answers
Felix has $1,000 in his savings account. He wants to purchase a motorcycle for $5,000. The seller has agreed to take a payment o
grigory [225]

Answer:

The system of equations is

(1) Amount balance to buy the motorcycle = Cost of motorcycle - Balance in savings

(2) Number of months Felix would need to make up the amount balance to buy the motorcycle = When Felix will have enough money to completely pay for his motorcycle

(3) Number of months Felix would need to make up the amount balance to buy the motorcycle = When Felix will have enough money to completely pay for his motorcycle

(4) The period it will take for Felix to have enough money to completely pay for his motorcycle is 8 months

Step-by-step explanation:

Here we have

Balance in savings = $1,000

Amount available to Felix each month = $500

Amount balance to buy the motorcycle = Cost of motorcycle - Balance in savings

= $5,000 - $1,000 = $4,000

Number of months Felix would need to make up the amount balance to buy the motorcycle = When Felix will have enough money to completely pay for his motorcycle

The above is given by

Number of months = Amount balance to buy the motorcycle ÷ Amount available to Felix each month

∴ Number of months = $4,000 ÷ $500 = 8 Months

That is Felix will have enough money to pay for his motorcycle in 8 months.

8 0
3 years ago
Recommendations
Vilka [71]

Answer:

60 degrees

Step-by-step explanation:

It is less than 90 degrees

3 0
3 years ago
X + 6= 9 +x solve for x
tatyana61 [14]

Answer:

There is no answer for 'x'

Step-by-step explanation:

x + 6 = 9+x  subtract 'x' from both sides

6 = 9    this is NOT true ....there is no answer

8 0
2 years ago
Other questions:
  • How many pencils measure 6 inches ​
    13·2 answers
  • What is the missing number<br> 7 x ( ? x 9) = 63
    15·1 answer
  • What’s the value of x
    10·2 answers
  • Hassan has 183/4 yard of fabric it takes 31
    6·1 answer
  • Which is greater 1 millennium or 10 centuries?
    8·2 answers
  • Write y=2x^2+8x+5 in vertex form. Please
    12·1 answer
  • You spin the spinner and flip a coin. Find the probability of the compound event.
    8·1 answer
  • Write an equation using a whole number and a unit fraction to equal 5/6
    6·1 answer
  • I need help on this someone please answer this.
    15·1 answer
  • Simplify the expression.<br><br> 13 + 6(-3) + (-23)
    5·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!