Total cost is $38.16
Multiply 36 by 0.06 (2.16)
Add 2.16 to 36 (38.16)
Answer:
Part A)
Part B)
Step-by-step explanation:
we know that
The compound interest formula is equal to
where
S is the Future Value
P is the Present Value
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
Part A)
in this problem we have
Part B) How much money will Marcus have in the account in 7 years?
we have
substitute in the formula above
Answer: 30^2 * pi = 2827.43.