Your answer will be choice A.
a = 15.1, b = 23.5, perimeter = 56.6
Answer:
Step-by-step explanation:
If $10,000 is invested at an interest rate of 2% per year, compounded semiannually, find the value of the investment after the given number of years. (Round your answers to the nearest cent.)
a)6 years
b)12 years
c)18 years
***
compound interest formula: A=P(1+r/n)^nt, P=initial investment, r=interest rate, n=number of compounding periods per year, A=amt after t-years.
For given problem:
P=10000
r=.02
n=2
t=6, 12, 18
..
A(6)=10000(1+.02/2)^2*6
A(6)=10000(1.01)^12=11,268.25
A(12)=10000(1.01)^24=12,697.35
A(18)=10000(1.01)^36=14,307.69
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The reason for this has to do with finding the area of a square. When you are looking for the area of a square, you use the rectangle formula (since a square is also a rectangle).
The formula is Area = Length * Width
However, since in a square, the length and width are the same, both get changed to the word "Side". As a result, we get the following formula.
Area = Side * Side
This can be simplified to:
Area = Side^2.
Since each number to the second power also shows the area of a square with that given length sides, it can also be called "squared".