The interest is a) $7000
b) $17709.73
c) $18672.62
d) $18901.67
What is the formula for simple and compound interest?
Simple interest = (P× r× t)
Compound interest = P(1+r/n)^nt - P
We will find the interest as shown below:
P=$4,000
t=25 years
a) r=7%=0.07
Simple interest = (P× r× t)
= (4000×0.07×25)
= $7000
b) r=7%=0.07
Compound interest = P(1+r)^t - P
= 4000(1+0.07)^25-4000
= $17709.73056
rounding to nearest cents
= $17709.73
c) r=7%=0.07
n=4
Compound interest = P(1+r/n)^nt - P
= 4000(1+0.07/4)^(25*4)-4000
= $18672.62375
rounding to nearest cent
= $18672.62
d) r=7%=0.07
n=12
Compound interest = P(1+r/n)^nt - P
= 4000(1+0.07/12)^(25*12)-4000
= $18901.6728
rounding to nearest cent
= $18901.67
Hence, the interest is a) $7000
b) $17709.73
c) $18672.62
d) $18901.67
Learn more about Interest here:
brainly.com/question/21104975
#SPJ1
Let's name the three consecutive even numbers n, n+2, and n+4. We know that their sum will be divisible by 2 because they are all even, so we can set x = n/2, and say that x + x+1 + x+2 = 48/2 = 24. Then, we can solve for 3x + 3 = 24, 3x = 24-3 = 21, and x = 21/3 = 7.
Final answer: n/2 = 7, so n = 14, so n+4 (the greatest number) is 14+4 =
18.
Answer:
X=5
Step-by-step explanation:
hope this helps:)
Answer:
13.7 mph
Step-by-step explanation:
• d = st
Given:
- d = 32 miles
- t = 2 1/3 hr = 7/3 hr
Find the rate s:
- s = d/t
- s = 32-7/3 = 32 x 3/7 = 96/7 = 13.7 mph (rounded)
