Step-by-step explanation:
The formula for compound interest is
P = I (1 + r/n)^nt
where
P: the total amount of money in the account after a certain amount of time
I: the principal amount
r: the interest rate as a decimal
n: the number of times a year interest is compounded
t: the number of years passed
For Patrick:
P = 200 (1 + 0.02/12)^12*8
P = 200 (1 + 0.00166667)^96
P = 200 (1.00166667)^96
P = 200 * 1.00166667^96
P = $234.67
For Brooklyn:
P = 200 (1 + 0.04/4)^4*8
P = 200 (1 + 0.01)^32
P = 200 (1.01)^32
P = 200 * 1.01^32
P = $274.99
After 8 years, Patrick has $234.67 and Brooklyn has $274.99
Answer:
Plz help will make the Brainly
Step-by-step explanation:
Answer:
5
Step-by-step explanation:
=2+(3)(16)-(2)(21)-3
=2+48-(2)(21)-3
=50-(2)(21)-3
=50-42-3
=8-3
=5
Hope this helped! :)
Answer:
I love you 6.78
Step-by-step explanation:
You have to love yourself
- 5x
-6 x 45
6.78
Answer:
498020 miles al
Step-by-step explanation:
