Answer: the value of the account after 6 years is $101559.96
Step-by-step explanation:
If $64,000 is invested in an IRA account, then
Principal = $64,000
So P = 64,000
The rate at which $64000 was compounded is 8%
So r = 8/100 = 0.08
If it is compounded once in a year, this means that it is compounded annually (and not semi annually, quarterly or others). So
n = 1
We want to determine the value of the account after 6 years, this means
time, t = 6
Applying the compound interest formula,
A = P(1 + r/n)^nt
A = amount after n number of years
A = 64000( 1 + 0.08/1)^1×6
A = 64000(1.08)^6
A= 64000×1.58687432294
A= 101559.956668416
Approximately $101559.96 to 2 decimal places
THE ANSWER IS B BECAUSE I TOOK THIS QUIZ ALREADY
Answer:
11xy^4(y+7x)
Step-by-step explanation:
That would be 3/8
Because 1/8 = 12.5 %
Answer:
The circle's circumference is 6.28 m.
Step-by-step explanation:
We have,
The circle has a radius of 1 meter.
It is required to find the circumference of the circle. The formula of the circumference of circle is given by :
r is radius
So, the circle's circumference is 6.28 m.
