No, because 5/6 is really 5 out of six and 5/8 is 5 out of 8, On the first one you are missing one while in the second one you are missing 3
Answer: 15% of 995 is 149.25, rounded up he should be paying 149 monthly
Answer:
y = -11
Step-by-step explanation:
Answer:
Step-by-step explanation:
The compounding formula for this is
where A(t) is the amount after all the compounding is done, P is the initial investment, r is the interest rate as a decimal, n is the number of times the interest compounds per year, and t is the time in years. For us, our n is 2, since the money compounds every 6 months, and 6 months goes into 1 year 2 times. Our formula then is:
which simplifies a bit to
which simplifies a bit more to
Raise 1.06 to the power of 18 and then multiply the 2 numbers together:
A(t) = 823(2.854339153) so
A(t) = 2349.12
