Answer:
At the end of 3 years, we could save upto $ 2975.4 with an interest rate of 3.3 %
Step-by-step explanation:
If we are putting $ 2700 into our IRA ( individual Retirement Account) for 3 years and we are earning 3.3% profit every year, we need to find the total amount saved at the end of 3 years.
Since the interest is calculated for more than 1 year, this is an example of compound interest.
The formula used is:
where FV = future value
P= Principal amount of money deposited
r= annual interest rate ( in decimal form)
n= number of times interest rate is compounded (yearly)
t= time period
So for our given guestion:
P= $2,700
r = 3.3 % = 0.033
n= 1
t= 3
putting our values in the formula
So, at the end of 3 years, we could save upto $ 2975.4 with an interest rate of 3.3 %
Answer:331.5
Step-by-step explanation:
The answer is 1 and 1/24. You add the numerators and the denominators across then simplify.
M=<u>(y2-y1)</u>
(x2-x1) m= rise over run. That is the correct formula to find your slope.
Answer:
2 decimal places
Step-by-step explanation:
just simple count the number of decimal points on both sides