The effective annual interest rate is:
i = (1 + 0.064/12)^12 - 1 = 0.066
In year 1: the interest is $613.80 (multiple $9300 by 0.066)
In year 2: the interest is $654.31 (add interest from year 1 to $9300 and multiply by 0.066)
In year 3: the interest is $656.98 (do the same as year 2)
In year 4: the interest is $657.16
The total interest is: $2582.25
The present worth of this amount is:
P = 2582.23 / (1 + 0.066)^4 = $1999.72
The answer is $1999.72.
PEMDAS states to do what's in the parenthesis first...
PEMDAS states to multiply 5 by 1 next...
PEMDAS states to subtract 4 by 5 next...
~~
I hope that helps you out!!
Any more questions, please feel free to ask me and I will gladly help you out!!
~Zoey
Answer:
No
Step-by-step explanation:
While these values are close, they are not equal, so I know the original fractions cannot be proportional to each other. So my answer is: The fractions are not
N=pm The number of pages equals the pages read per minute