Answer:
Step-by-step explanation:
We would apply the formula for determining simple interest which is expressed as
I = PRT/100
Where
I = interest at the end of t years
r represents the interest rate.
P represents the principal or initial amount deposited.
t represents the number of years of investment.
From the information given,
P = 1000
R = 2%
T = 5 years
Therefore,
I = (1000 × 2 × 5)/100
I = $100
The total amount in the account after 5 years would be
1000 + 100 = $1100
Answer: 237.160283353
Step-by-step explanation:
Answer:
4250
Step-by-step explanation:
0.13 = 13%
1000×0.13=130
130×25= 3250 + 1000 = 4250
What I did:
You have to turn the percent to a decimal first
Then multiply the decimal by the first investment amount (1000)
then multiply that by the years that you have before retirement
You add that amount plus the 1000 you have started with
Associative Property
The parentheses are grouping operators.
Think about the word associate to make it easier
6x2 = 12
12 / 3 = 4 <span>6=6/1 so you do the numerators x the denominators which is 6x2/1x3=12/3 then simplify and make into a mixed number so final answer is 4</span>
