Victor makes decorations for his birthday party. He needs 5/6 yard of ribbon for each decoration. How much ribbon does Victor ne
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Make use of the known limit,
We have
since , and the limit of a product is the same as the product of limits.
is continuous at
, and
. The remaining limit is also 1, since
so the overall limit is 1.
In order to determine the balance of the account, use the following formula for the amount of money obtained after t years, basen on a compound interest:
where,
P: principal = $12,500
A: amount earnt after t years = ?
r: interest rate in decimal form = 0.045 (4.5%)
n: times at year for the compund interes = 4 (quaterly)
Replace the previous values of the parameters into the formula for A and simplify:
Hence, the balance after 8 years is approximately $17,880.64 in the account.
The interest earnt by the account is given by the difference between the previous result and the principal invesment:
I = $17,880.64 - $12,500 = $5,380.64
Hence, the interest earnt is $5,380.64