The time required to get a total amount of $13,200.00 with compounded interest on a principal of $7,000.00 at an interest rate of 5.5% per year and compounded 12 times per year is 11.559 years. (about 11 years 7 months)
Answer:
t = 11.559 years
<h3>Compound Interest </h3>
Given Data
(about 11 years 7 months)
Calculation Steps:
First, convert R as a percent to r as a decimal
r = R/100
r = 5.5/100
r = 0.055 per year,
Then, solve the equation for t
t = ln(A/P) / n[ln(1 + r/n)]
t = ln(13,200.00/7,000.00) / ( 12 × [ln(1 + 0.055/12)] )
t = ln(13,200.00/7,000.00) / ( 12 × [ln(1 + 0.0045833333333333)] )
t = 11.559 years
Learn more about compound interest here:
brainly.com/question/24924853
Answer: $537.5
Step-by-step explanation:
$500 at 1.5% for 5 years
p x r x t = i
500 x 0.015 x 5= 37.5
37.5+500=537.5
Answer:
The answer is "Option d".
Step-by-step explanation:
It involves the use of quantitative templates, diagrams, or summaries in such a given set of experimental data or real-liability for research. This research method is used for gathering, analyzing, assessing, or making judgments.
- The statistics are mostly a summary description and the entire nation is represented in a parameter.
- It is 78 figure is a statistical figure based on a survey of 10,000 people, that's why choice d is correct.
Answer:
24 :))))))))))))))
Step-by-step explanation:
2/3 of 48 is 32, so 3/4 of 32 is 24.
Answer:$1.08 cents.
Step-by-step explanation:
$6 - $4.52 = $1.08.
