1: 8.763
2:112.1
3:88
4:902.8
Hope this helps
Y<-60
hope this helps and good luck;)
Answer: $4,331
Step-by-step explanation:
I will assume that the question meant 5.2% not 52% as this is quite excessive.
Katherine after 13 years.
Convert the variables;
n = 13 years = 13 * 365 = 4,745 days
r = 5.2% = 5.2/365 = 5.2/365%
Future value = P * ( 1 + r)^n
= 86,000 * (1 + 5.2/365%)⁴⁷⁴⁵
= $169,068
Michael after 13 years;
If compounded continuously, the formula is;
Future value = Pe^rt
= 86,000 * e⁰.⁰⁵ ˣ ¹³
= $164,737
Difference = 169,068 - 164,737
= $4,331
