Use the compound interest formula.
Let A = the ending amount
Let P = the principal
Let r = the interest rate
Let n = the amount compounded a year
Let t = time
A = P(1 + r/n) ^(n/t)
Substitute your numbers in
A = $7,000(1 + 0.06/4)^(4/7)
Solve for A
A = $7,059.81
Answer:
2.306
Step-by-step explanation:
u while times the number
18/3=6
12/2=6
24/4=6
30/5=6
36/6=6
Answer:
I'll setup the problem and you can compute the answer
Step-by-step explanation:
The formula for simple:
I = P*r*t
I = interest
P = loan amount
r = interest rate per period (period = days)
n = number of periods
P = 10,170
r = .0764/365
t = 272
