Answer:
In 4 years, you will have $2,635.38
Step-by-step explanation:
The formula for annual compound interest, including principal sum, is:
A = P (1 + r/n) ^ (nt)
Where:
A = the future value of the investment/loan, including interest
P = the principal investment amount (the initial deposit or loan amount)
r = the annual interest rate (decimal)
n = the number of times that interest is compounded per year
t = the number of years the money is invested or borrowed for
Note that this formula gives you the future value of an investment or loan, which is compound interest plus the principal. Should you wish to calculate the compound interest only, you need this:
Total compounded interest = P (1 + r/n) ^ (nt) - P
From birth to 5yo = 91,200
from 5 to 18yo = 167,000
therefore from birth to 18yo will cost 91,200 + 167,000 which is 258,200
Since the question says per year and thats the total cost of 18 years ( from 0 years to 18), we divide it by 18.
258,200 ÷ 18 = 14,344
Answer a: 14,344
Answer:
4/5
Step-by-step explanation:
Hope this helped :)
Answer:
Somebody answer hurry i also need help
Step-by-step explanation:
