Answer:
The total price for ant farm is $12.84
Step-by-step explanation:
The price of ant farm = $ 12
The sales tax on the price = 7%
Noe, 7% of $12 =
⇒The tax amount on the price = $0.84
So, the Taxed amount = The original price + Tax
$ 12 + $0.84 = $12.84
Hence the total price for ant farm is $12.84
Answer:
$28,342.54
Step-by-step explanation:
The value of an account earning compound interest is found using the formula ...
A = P(1 +r/n)^(nt)
where P is the principal invested at annual rate r compounded n times per year for t years.
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You have P=7000, r=0.12, n=2, t=12.
Using these values in the formula, we find the accumulated value of the investment to be ...
A = 7000(1 +0.12/2)^(2·12) = 7000(1.06^24) ≈ 28,342.54
The value after 12 years is $28,342.54.
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<em>Additional comment</em>
The time-value-of-money functions of your calculator or spreadsheet can find this for you.
