What the answer for 8x+1+7x+4
1 answer:
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Answer:
(a)
(b)$3763.31
Step-by-step explanation:
When a Principal, P is invested at an annual rate r, for a period of k times over n years, the Amount, A(t) after n years is given by the model:
In this case:
r=1.8%
Since it is compounded bimonthly, k=2X12=24
Therefore:
For P=$2400, and n=25 years
The balance in the account after 25 years is $3763.31.