Please help me I need this answer and I can not figure it out im not smart so could you please help
2 answers:
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Answer:
$1,229.75
Step-by-step explanation:
Lets use the compound interest formula provided to solve this:
<em>P = initial balance</em>
<em>r = interest rate (decimal)</em>
<em>n = number of times compounded annually</em>
<em>t = time</em>
<em />
First, change 3.25% into a decimal:
3.25% -> -> 0.0325
Since the interest is compounded monthly, we will use 12 for n. Lets plug in the values now:
Lastly, subtract A from P to get the interest earned:
assuming
Then the column values for base five here are
5³ 5²
We can get 1 × 5³ = 125 → 219 - 125 = 94
We can get 3 × 5² = 75 → 94 - 75 = 19
We can get 3 x → 19 - 15 = 4
and 4 = 4 ×
Thus =
As a check
(1 × 125 ) + (3 × 25 ) + (3 × 5 ) + 4 = 219