So how many times does 92 go into 181? Well only once. So the mixed part of the fraction would be 1.
181/92 = 1 89/92
Answer:
A = $56,740
Step-by-step explanation:
Use the Compound Amount formula A = P(1 + r)^t. Substitute 0.05 for r and $40,000 for P:
A = $40,000(1 + 0.05)^6
A = $56,740.26, or, rounded off to the nearest dollar,
A = $56,740
