The amount after 2 years is $2,295.
Given that,
- The invested amount is $1,240.
- The rate of interest is 8%.
- The number of years is 2 × 4 = 8
Based on the above information, the amount after 2 years is
Future value = Present value ×(1 + rate of interest)^number of years
= $1,240 × (1 + 0.08)^8
= $1,240 × 1.08^8
= $2,295
Therefore we can conclude that the amount after 2 years is $2,295.
Learn more: brainly.com/question/18051939
Answer:
the answer is 200 mph because you take and divide the 400 miles by 20 mph
Step-by-step explanation:
Answer:
Yolanda will have a balance of $34,043.10 in 14 years.
Step-by-step explanation:
This is an Ordinary annuity question where you pick the hint from the equal and recurring monthly payment.
To find the Future value of Yolanda's savings after 14 years, use Future value of annuity formula FVA = ![\frac{PMT}{r}[1-(1+r)^{-t} ]\\](https://tex.z-dn.net/?f=%5Cfrac%7BPMT%7D%7Br%7D%5B1-%281%2Br%29%5E%7B-t%7D%20%5D%5C%5C)
PMT= recurring payment = $300
r = discount rate; monthly rate in this case = 6% / 12 =0.5% or 0.005 as a decimal.
t = total duration ; 14 *12 = 168 months
Next, plug in the numbers into the FVA formula;
FVA = ![\frac{300}{0.005} [ 1-(1+0.005)^{-168} ]](https://tex.z-dn.net/?f=%5Cfrac%7B300%7D%7B0.005%7D%20%5B%201-%281%2B0.005%29%5E%7B-168%7D%20%5D)
FVA = 60,000 * 0.5673849
FVA = 34,043.0969
Therefore, Yolanda will have a balance of $34,043.10 in 14 years
To find the greatest common factor of two monomials, first find the prime factorization of each monomial, including all the variables (and a – factor if necessary). Then take the product of all common factors. First, find the prime factorization of each monomial. So, the GCF is 3 p 2 r 3 .
