The formula for calculating compound interest with yearly contributions is:
Balance = X*(1 + Y)^n + Z((1 + Y)^(n + 1) - (1 + Y)/Y)
where the balance is the money earned after n years invested
Y is the interest rate as a fraction
Z is the yearly contribution
X is the starting investment
Therefore the calculation for this example is:
Balance = 1200*(1 + 0.05)^48 + 1200((1.05)^49 - (1.05)/05)
= $249,393.5
One-sixth of an hour is 10 minute
10 minutes 3/4 chapter
Therefore, 10 minutes x 6= 3/4x6
Shawn can read 4.5 chapters in one hour
Answer:
Step-by-step explanation:
-4<n≤5
The age difference between Diane and Amy remains the same. 6 year later, the age difference is still 23 years old.
6 years later,
Amy is 23 years old
Diane is 46 years old
Now,
Amy, 17 years old
Diane, 40 years old.
