The equation for this is:
F = P(1+i)ⁿ
where
F is the present accounts balance
P is the initial deposit
i is the interest rate
n is the number of months
The interest rate is nominal which is 2.9% per year compounded monthly. Since there are 12 months in a year, that is equal to an effective interest rate of 0.24167% per month compounded monthly (i = 0.0024167). In 9 years, there are a total of 108 months, so n=108.
<span>$2033.88 = P(1+0.0024167)</span>¹⁰⁸
P = $1567.147
Answer:
46$
Step-by-step explanation:
20+20=40, 5% of 40=2, 42, +4, 46. (the 4 comes from the 10%)
Answer:
what are the equations
Step-by-step explanation:
you didnt show the equations
Answer:
y-6=2(x-(-1))
Or simplified:
y-6=2(x+1)
Step-by-step explanation:
use the formula: y-y1=m(x-x1)
The probability of 5 movie downloads would be about 1 to 2 percent
