Compound Interest is the interest that is <em>compounded on a particular sum of money or investment over a given period of time.</em>
- The interest for the first year is $1,576.25
- The sum of money after adding the original to the interest is $11,576.25
- The interest on the new total is $13,400.96
- Step 1: Find the interest for the first year.
The formula is given as:
A = P(1 + r/n)^nt
P = Principal = $10,000
R = Rate = 5%
n = 1
t = 1
First, convert R as a percent to r as a decimal
r = R/100
r = 5/100
r = 0.05 rate per year,
Then solve the equation for A
A = P(1 + r/n)^nt
A = 10,000(1 + 0.05/1)^(1)(3)
A = 10,000.00(1 + 0.05)^(3)
A = $11,576.25
I = A - P
Hence:
I = $11,576.25 - $10,000.00
I (interest) = $1,576.25
-
Step 2: Add the interest to the original amount.
$10,000 + $1,576.25
= $11,576.25
-
Step 3: Determine interest in the new total
The formula is given as:
A = P(1 + r/n)^nt
P = Principal = $11,576.25
r = 0.05 rate per year,
Then solve the equation for A
A = P(1 + r/n)^nt
A = 11,576.25(1 + 0.05/1)^(1)(3)
A = 11,576.25(1 + 0.05)^(3)
A = $13,400.96
Therefore,
- The interest for the first year is $1,576.25
- The sum of money after adding the original to the interest is $11,576.25
- The interest on the new total is $13,400.96
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Answer:
Dividend
Step-by-step explanation:
When converting a fraction to a decimal, the numerator is the dividend.
Answer:
c
Step-by-step explanation:
.................................
Answer:
x/8
Step-by-step explanation:
Answer:
The ratio of the amount for swordfish to the amount of salmon is 6:4
Step-by-step explanation:
Given as :
The price for 1 pound of swordfish = The price of 1.5 pound of salmon
So, On this relation
The price for ( 1 × 2 ) pound of swordfish = The price of ( 1.5× 2 ) pound of salmon
i.e The price for 2 pound of swordfish = The price of 3 pound of salmon
Now According to question
Mrs. O pay the total money for 2 pounds of swordfish and 3 pound of salmon = $ 39
Let the money she pay for swordfish = 2 sw
And The money she pay for salmon = 3 sa
∵, The total money she pay for both = $ 39
I.e 2 sw + 3 sa = 39
As 2 sw = 3 sa
So, 3 sa + 3 sa = 39
Or, 6 sa = 39
or, sa = 
= 
∴ sw = × 
or, sw = 
Now, the ratio of the amount for swordfish to the amount of salmon = 
I.e The ratio = 
Hence The ratio of the amount for swordfish to the amount of salmon is 6:4
Answer
