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Given
Present investment, P = 3400
APR, r = 0.0115
compounding time = 13 years
Future amount, A
A. compounded annually
n=13*1=13
i=r=0.0114
A=P(1+i)^n
=3400*(1+0.0115)^13
=3944.895
B. compounded quarterly
n=13*4=52
i=r/4=0.0115/4
A=P(1+i)^n
=3400*(1+0.0115/4)^52
=3947.415
Therefore, by compounding quarterly, he will get, at the end of 13 years investment, an additional amount of
3947.415-3944.895
=$2.52 (to the nearest cent)
Answer:
Step-by-step explanation:
$15/(3 pounds) = $5/pound
8 pounds × $5/pound = $40
Answer:
The residents of a city voted on whether to raise property taxes. The ratio of yes votes to no votes was 4 to 7 . If there were 10,725 total votes .
Step-by-step explanation:
Answer:
-69
Step-by-step explanation:
k(-5) = 10*-5 -19
= -50-19
=-69
