The effective annual interest rate is:
i = (1 + 0.064/12)^12 - 1 = 0.066
In year 1: the interest is $613.80 (multiple $9300 by 0.066)
In year 2: the interest is $654.31 (add interest from year 1 to $9300 and multiply by 0.066)
In year 3: the interest is $656.98 (do the same as year 2)
In year 4: the interest is $657.16
The total interest is: $2582.25
The present worth of this amount is:
P = 2582.23 / (1 + 0.066)^4 = $1999.72
The answer is $1999.72.
Answer:
134
Step-by-step explanation:
This equation follows y=mx+b
y = output
x = input
(In this case) 8 = slope
(In this case) 134 = y-intercept
Answer:
4
Step-by-step explanation:
4X7 =28
4X2 =8
28-8 =20/5
=4
Answer:
1060934.37624
Step-by-step explanation:
Nice troll question
