ILL GIVE POINTS!!
1 answer:
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Answer:
$15,539.67
Step-by-step explanation:
Compound Interest Formula
where:
- A = final amount
- P = principal amount
- r = interest rate (in decimal form)
- n = number of times interest applied per time period
- t = number of time periods elapsed
Given:
- P = $11,000
- r = 5.8% = 0.058
- n = 4 (quarterly)
- t = 6 years
Substitute the given values into the formula and solve for A:
Therefore, the value of the investment after 6 years will be $15,539.67 to the nearest cent.
Answer:
General Formulas and Concepts:
<u>Pre-Algebra</u>
Order of Operations: BPEMDAS
- Brackets
- Parenthesis
- Exponents
- Multiplication
- Division
- Addition
- Subtraction
- Left to Right<u> </u>
<u>Algebra I</u>
Reading a Cartesian Plane
- Coordinates (x, y)
Slope Formula:
Step-by-step explanation:
<u>Step 1: Define</u>
<em>Find points from graph.</em>
Point (0, 3)
Point (1, 5)
<u>Step 2: Find slope </u><em><u>m</u></em>
Simply plug in the 2 coordinates into the slope formula to find slope <em>m</em>
- Substitute in points [Slope Formula]:
- [Slope] Subtract:
- [Slope] Divide: