Answer:
What’s the question?
Step-by-step explanation:
Answer:
A = $ 1,987,379.10 + 700,000= $2,687,379.10
Step-by-step explanation:
15% = 0.15 rate per tear
A = P (1+r/n)^nt
A = 700,000 (1+0.015/12)^12*7
A = 700,000 (1+0.0125)^84
A = 700,000 ((0.9875)^84
A = 700,000 (2.839113)
To make the exponent rational, for square root use 1/2. To wit:
10^(1/2)
Answer: 25.7495 full: 25.75 rounded
Step-by-step explanation: Multiply 16*0.62, simple. From that you get 25.7495 Then, since there is a 9 after the four, you would round the 4 up to a 5.
Answer:
12 Years
Step-by-step explanation:
Simple interest is calculated as I = Prt, where P is the principal (amount of money invested), r = rate of interest written as decimal, and t = time
The amount started as P and incresed by Prt, so
P + Prt = 1007.78
616 + (616)(0.053)t = 1007.78
Now you need to solve for t:
Subtract 616 from both sides and simplify:
32.648t = 391.78
Divide both sides by 32.648:
t = 12
Answer: 12 years
