Help please ? Write a quadratic equation in standard form with the given root(s) -5,1/2
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We have been given that Nicolas has $6,500 to deposit into an account which earns 3.25% interest compounded annually. We are asked to find amount of interest earned at the end on 8 years.
We will use compound interest formula to solve our given problem.
, where,
A = Final amount,
P = Principal amount,
r = Annual interest rate in decimal form,
n = Number of times interest is compounded per year,
t = Time in years.
Now we will subtract principal amount from final amount to find amount of interest as:
Therefore, Nicolas would have earned $1895.25 in interest at the end of 8 years.
I like to reduce everything by half if I don't already know the answer.
It just so happens that is the reduced fraction.
All I did was halve 18, which is 9, and halve 34, which is 17.