Answer:
12.60
Step-by-step explanation:
Answer:
We conclude that the total amount accrued, principal plus interest, from compound interest on an original principal of $2500 at a rate of 5% per year compounded 6 times per year over 8 years is $3723.38.
Step-by-step explanation:
Given
Principle P = $2500
Interest rate r = 5% = 0.05
Time period t = 8 years
To determine
Accrue Amount A = ?
Using the compound interest equation

where:
A represents the Accrue Amount
P represents the Principal Amount
r represents the interest rate
t represents the time period in years
n represents the number of compounding periods per unit t
Important tip:
- Given that the interest is compounded 6 times each year, therefore, the value of n = 6.
now substituting P = 2500, r = 0.05, t = 8 and n = 6 in the equation



∵ 
$
Therefore, we conclude that the total amount accrued, principal plus interest, from compound interest on an original principal of $2500 at a rate of 5% per year compounded 6 times per year over 8 years is $3723.38.
Answer: you can
Step-by-step explanation:
Answer:
$2.50
Step-by-step explanation:
Shelley buys one pack of gum for $1
Price of gum: $1
Total amount of money spent: $1.00
Shelley buys another pack of gum for $0.50 more
1 + 0.50 = 1.5
Price of gum: $1.50
Total amount of money spent: $2.50