Your Aunt Lina wants to be fair and wants you to buy an equal amount of hamburgers as turkey burgers for everyone at the family
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- Evaluate the expression ⇨ (-6) squared.
This will be equal to..
Multiply -6 by itself (squaring a number means to multiply the number by itself twice)
-6 multiplied by-6 will get you 36 as the answer.
In order to determine the balance of the account, use the following formula for the amount of money obtained after t years, basen on a compound interest:
where,
P: principal = $12,500
A: amount earnt after t years = ?
r: interest rate in decimal form = 0.045 (4.5%)
n: times at year for the compund interes = 4 (quaterly)
Replace the previous values of the parameters into the formula for A and simplify:
Hence, the balance after 8 years is approximately $17,880.64 in the account.
The interest earnt by the account is given by the difference between the previous result and the principal invesment:
I = $17,880.64 - $12,500 = $5,380.64
Hence, the interest earnt is $5,380.64