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2 answers:
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Answer: A) $120,953
Step-by-step explanation:
The formula to calculate the compound amount (semi-annually):-
, where P is principal amount , r is rate of interest and n is the number of time periods.
Given : Principal amount : P= $90,000
Rate of interest : 6% per annum = 0.06 per annum
Time period : n= 5 years
Hence, the ABC will have $ 120,953 in the account after five years if interest is reinvested.
Answer:
Step-by-step explanation:
From the problem statement, we can set up the following two equations:
where is the number of Knicks players, and
is the number of Nets players.
We can substitute the first equation into the second and solve for