Answer: the future value is $1748.4
Step-by-step explanation:
We would apply the formula for determining compound interest which is expressed as
A = P(1+r/n)^nt
Where
A = total amount in the account at the end of t years
r represents the interest rate.
n represents the periodic interval at which it was compounded.
P represents the principal or initial amount deposited
From the information given,
P = 1550
r = 4% = 4/100 = 0.04
n = 365 because it was compounded 365 times in a year.
t = 3 years
Therefore,.
A = 1550(1 + 0.04/365)^365 × 3
A = 1550(1+0.00011)^1095
A = 1550(1.00011)^1095
A = 1550 × 1.128
A = 1748.4
Answer:
1. 2x+2-(2x-14)=5x+2
0x+16=5x+2
16=5x+2
14=5x
14/5=x or 2.8=x
2. 2x+10-(-2x+7)=-7x+14
4x+3=-7x+14
11x+3=14
11x=11
x=1
Step-by-step explanation:
Hope this helps
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