Answer:
18p
Step-by-step explanation:
Use the compound interest formula.
A = P*(1 +r/n)^(n*t)
where P is the principal, r is the annual rate, n is the number of compoundings per year, and t is the number of years.
For the first investment, ...
A = 208,000*(1 +.08/4)^(4*5) = 309,077.06
For the second investment, ...
A = 218,000*(1 +.07/2)^(2*4) = 287,064.37
Totaling both investments at maturity, Megan has $596,141.43.
Answer:
$1431
Step-by-step explanation:
If Stan pays a 10% deposit, he pays $159. 10% of $1590 is simply 0.1 * 1590 = 159. Assuming this is the only amount he pays, he then simply needs to pay the full price minus $159. We can find this by simply subtracting 159 from 1590 to get 1431. Stan still needs to pay $1431.
