After 6 years the investment is $5555.88
Step-by-step explanation:
A principal of $3600 is invested at 7.5% interest, compounded annually. How much will the investment be worth after 6 years?
The formula used to find future value is:
where A(t) = Accumulated amount
P = Principal Amount
r = annual rate
t= time
n= compounding periods per year
We are given:
P = $3600
r = 7.5 %
t = 6
n = 1
Putting values in formula:
So, After 6 years the investment is $5555.88
Keywords: Compound Interest formula
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Answer: just multiply 9 and y together: 9 x y
Answer:
C. The trails are not independent.
Answer:
A
Step-by-step explanation:
multiply $17.95 by 40% to get the discount ($17.95 x .4), which equals $7.18.
the sale price is the initial price of the book less the discount ($17.95-$7.18), which equals $10.77.
One of your friends gives you $10 for a charity walkathon -- this is your beginning amount.
Another friend gives you an amount per mile -- you will to calculate this value.
After 5 miles, you have raised $13.50 total --
-- Since one friend gave you $10.00, subtract this from the $13.50 to give you the amount by walking the 5 miles
-- $10.00 - $13.50 = $3.50
-- Since you walked 5 miles, divide $3.50 by 5 to give you $0.70 per mile earned.
So, an equation that represents the amount of money earned is: y = $0.70x+$10.00.
This is in slope-intercept form; the slope is $0.70 and represents the amount of money earned per mile and the intercept is $10.00 and represents the initial amount of money that you were given.
