Which of the following represents the solution to k/-5 ≥ 3?
2 answers:
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Answer:
The correct answer is $8532.17
Step-by-step explanation:
The formula for calculating investments with compound interests is as follows:
Where:
R is the annual interest rate,
t is the number of times the investment is to be compounded in a year,
n is the number of years,
P is the principal amount invested.
Replacing in the formula with the given values you have:
Answer:
$268.78
Step-by-step explanation:
We will use the compound interest formula to solve this:
<em>P = initial balance</em>
<em>r = interest rate (decimal)</em>
<em>n = number of times compounded annually</em>
<em>t = time</em>
First, change 3% into its decimal form:
3% -> -> 0.03
Now, plug in the values:
After 10 years, you will have $268.78