Answer:
$1015.11
Step-by-step explanation:
Compounded interest rate formula: A = P(1 + r/n)^t
Step 1: Plug in known variables
A = 1000(1 + 0.005/12)^36
Step 2: Multiply it all together
1000(1.00042)^36
1000(1.01511)
1015.11
This is a pretty bad bank considering only giving you .5% interest per month.
Answer:
32
Step-by-step explanation:
Henrietta will create more bracelets per minute because sydney creates 24/40 of a bracelet per 10 seconds compared to sydney who makes 25/40 of a bracelet per 4 seconds.
Answer:
a. Yes. The difference is common and equal to $1750
b. $1750
c. $20000 was initial investment
d. This is linear equation with start point of 20000 and slope of 1750:
e. After another 10 years (on the top of 5 given) the investment will be:
- y = 1750*15 + 20000 = $46250
f. After 20 years the value of investment will be:
- y = 1750*20 + 20000 = $55000
