Answer:
The balance is
Step-by-step explanation:
we know that
The compound interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
substitute in the formula above
Answer:
Maximum number of months Abby can learn yoga is 25 months.
Step-by-step explanation:
We have given,
Total savings of Abby = $1325
Total charges to learn yoga is given as:
A fixed registration fee = $35
And a monthly fee = $50
Since the registration Abby pays only once. So we can calculate the remaining saving amount for Abby.
i.e Remaining saving amount after registration fee = $ (1325 - 35) = $1290
Now, from the remaining amount after paying registration fee , let the Abby learn yoga for x months.
To find maximum number of months we need to satisfy a equation given as:
or
Since we got x ≤ 25.8 months ≈ 25 months (in integer form)
So maximum number of months Abby can learn yoga is 25 months.