I need help please
1 answer:
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Answer:
The value of this investment at the end of the 5 years is of $662.5.
Step-by-step explanation:
Compound interest:
The compound interest formula is given by:
Where A(t) is the amount of money after t years, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per year and t is the time in years for which the money is invested or borrowed.
Dina invests $600 for 5 years at a rate of 2% per year compound interest.
This means that . Thus
Calculate the value of this investment at the end of the 5 years.
This is A(5). So
The value of this investment at the end of the 5 years is of $662.5.
Answer:
Raul's errors are in the application of the distributive property(he applied it wrongly), in not respecting the precedence of operations, and in the multiplication of two terms with the same base(we add the exponent).
Step-by-step explanation:
Distributive property:
The distributive property of multiplication is:
a*(b + c) = a*b + a*c
Precedence of operations:
First multiplication, then addition.
Multiplication of terms with the same base:
The multiplication of h*h = h², which Raul missed.
The correct simplification is given by: