Firstly, solve the effective annual interest (ieff) with the equation,
ieff = (1 + i/m)^m -1
where i is the interest rate and m is the number of times the interest is compounded in a year. In this problem, m is 12
Substituting the values,
ieff = (1 + 0.034/12)^12 - 1 =0.03453
To solve for the future (F) amount of the present investment (P),
F = P x (1 + ieff)^n
where n is number of years.
F = ($742) x (1 + 0.03453)^15
Thus, the answer is $1234.76.
Answer:
13.82 in.
Step-by-step explanation:
To find the circumference of a circle, you multiply the diameter by pi (
):
Rounded to the nearest tenth, 13.82301 is 13.82. Therefore, 13.82 is the answer.
I hope this helps!
Answer:
Step-by-step explanation:
Setting it up as a fraction will help us see the simplification process a bit easier.
a/a = 1, so they cancel each other out, leaving us with simply
Answer:
x < -3
Step-by-step explanation:
Answer:
7-12 is 5
Step-by-step explanation:
First you want to turn this into addition and make 12 it's inverse 7+(-12) now with 7+(-12) it is basically 12-7. 12-7=5 so your answer is 5
