Answer:
40%
Step-by-step explanation:
every year the interested be 20%
that's why in 2 years be 40%interest
Answer:
mad is 0
Step-by-step explanation:
what type of question is this? no offense
Firstly, solve the effective annual interest (ieff) with the equation,
ieff = (1 + i/m)^m -1
where i is the interest rate and m is the number of times the interest is compounded in a year. In this problem, m is 12
Substituting the values,
ieff = (1 + 0.034/12)^12 - 1 =0.03453
To solve for the future (F) amount of the present investment (P),
F = P x (1 + ieff)^n
where n is number of years.
F = ($742) x (1 + 0.03453)^15
Thus, the answer is $1234.76.
Answer:
No solutions I think
Step-by-step explanation:
The answer is 8/3 but if your simplifying then the answer is 2 2/3 and if you want it in decimal form then the answer is 2.6 :)
