Answer:
Total = 2,400 * (1 + (.083/4))^4*5
Total = 2,400 * (1.02075)^20
Total = 2,400 * 1.5079528829
Total = 3,619.09
Step-by-step explanation:
Answer:
10,200 Dollars
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 6%/100 = 0.06 per year.
Solving our equation:
A = 7500(1 + (0.06 × 6)) = 10200
A = $10,200.00
Dividing by a complex number is a similar process to the above - we multiply top and bottom of the fraction by the conjugate of the bottom.