Answer: $352.48
Step-by-step explanation:
Hi, to answer this question we have to apply the formula:
A = P (1 + r)^t
Where
A: total balance after invest
P: principal amount invested
r = interest rate (in decimal form)
t = time (years)
Replacing with the values given:
500= P (1+0.06)^6
Solving for P:
500 = P (1.06)^6
500 / ( (1.06)^6)=P
500 / 1.4185 =P
$352.48= P
Answer:
352.48
$2.50 was left for each person.
4(9.50) + x = 48
38 + x = 48
subtract 38 on both sides
x = 10
10$ was left in total by all 4 people
10/4 = 2.50
$2.50 was left over for each person
Infinite
I hope this helps, if it doesn't then just message me and ill be more than happy to help :)
