Answer:
FV= $385,307.82
Step-by-step explanation:
Giving the following formula:
Annual salary (A)= $39,500
Growth rate (g)= 2% annual
Number of years (n)= 9 years
<u>To calculate the total amount earned over 9 years, we need to use the following formula:</u>
FV= {A*[(1+g)^n-1]}/g
A= annual deposit
FV= {39,500*[(1.02^9) - 1]} / 0.02
FV= $385,307.82
Answer:
Oop
Step-by-step explanation:
Answer:
t = 6 years
Step-by-step explanation:
Use the simple interest formula: i = prt, where p is the principal, r is the interest rate as a decimal fraction, and is the elapsed time, in years.
Here we want to know how long it will take for the interest alone to reach $449.40. We first solve i = prt for t, obtaining t = i/(pr).
Here, the length of time is t = ($449.40) / (0.06*$1498.00). This works out to
t = 5.9947, or approximately 6 years.
t = 6 years
Answer: 12
Step-by-step explanation:
One yard is three feet. So three times four is 12 because it makes four yards in total with each side being a yard.
