Am I suppose to be looking at a picture?
Answer: $76,244.51
Step-by-step explanation:
You need to use the compound interest formula here.
First of all however, you need to convert the terms to monthly figures because the interest is compounded monthly.
4% in months = 4 / 12 = 4/12%
6 years = 6 * 12 = 72 months
Now use the compound interest formula:
= Amount * (1 + rate) ^ number of years
= 60,000 * ( 1 + 4/12%) ⁷²
= $76,244.51
Answer:
y = 3
Step-by-step explanation:
(5y - 3)/4 + 6 = 3y
5y - 3 + 24 = 12y
7y = 21
y = 3
Check.
(5*3 - 3)/4 + 6 = 3*3
(15 - 3)/4 + 6 = 9
12/4 + 6 = 9
3 + 6 = 9
9 = 9
Answer:
240
Step-by-step explanation: