Answer:
The balance of account at the end of 36 years is $31,849.29
Step-by-step explanation:
We are given the following in the question:
P = $3,300
r = 6.5% = 0.065
t = 36 years
The compound interest is given by:
where A is the amount, p is the principal, r is the interest rate, t is the time in years and n is the nature of compound interest.
Since interest is compounded annualy we use n = 1
Thus, balance of account at the end of 36 years is $31,849.29
First one: false
second one: false
third one: false
fourth one: true
200, because 8% is 8 parts of 100%. Then 1 part of that 100% is 16/8=2. Then 100% is the number i.e; 200