Answer:
-3
Step-by-step explanation:
Answer:
Step-by-step explanation:
Think it’s - 1/3 not sure tho
Answer: he should invest $16129 today.
Step-by-step explanation:
Let $P represent the initial amount that should be invested today. It means that principal,
P = $P
It would be compounded annually. This means that it would be compounded once in a year. So
n = 1
The rate at which the principal would be compounded is 7.6%. So
r = 7.6/100 = 0.076
The duration of the investment would be 6 years. So
t = 6
The formula for compound interest is
A = P(1+r/n)^nt
A = total amount in the account at the end of t years.
A = 25000
Therefore
25000 = P(1+0.076/1)^1×6
25000 = P(1.076)^6
25000 = 1.55P
P = 25000/1.55
P = $16129
Answer:
3.25 × 10^6
Step-by-step explanation:
7.57×10^6 - 4.32 × 10^6
(7.57 - 4.32) × 10^6
<u>3.25 × 10^6</u>
