Answer:
7x10^4
Step-by-step explanation:
Please add the thanks and rate me please
Answer:
757,576cents
Step-by-step explanation:
Given
Amount = $10000
Time = 4years
Rate = 8%
n = 1/4 year (compounded quarterly
Using the formula to get the principal
A = P(1+r/n)^nt
10000 = P(1+0.08/0.25)^4(1/4)
10000 = P(1+0.32)
10000= 1.32P
P = 10000/1.32
P = 7575.76
Hence he suppose to invest $7575.76 which is equivalent to 7575.76×100 cents i.e 757,576cents
Answer:
I'm too tired to explain, here's some digital work on a site called Symbolab:
Answer:
7.405882353 years
Step-by-step explanation:
Simple interest is
A = P(1+rt)
Where A is the amount in the account
P is the principle invested
r is the rate and
t is the time
6593.75 = 5000( 1+ .0425*t)
Divide each side by 5000
6593.75/5000 = ( 1+ .0425*t)
1.31475 = ( 1+ .0425*t)
Subtract 1 from each side
.31475 = .0425t
Divide each side by.0425
.31475/.0425 = .0425t/.0425
7.405882353 = t
7.405882353 years
