Firstly, solve the effective annual interest (ieff) with the equation,
ieff = (1 + i/m)^m -1
where i is the interest rate and m is the number of times the interest is compounded in a year. In this problem, m is 12
Substituting the values,
ieff = (1 + 0.034/12)^12 - 1 =0.03453
To solve for the future (F) amount of the present investment (P),
F = P x (1 + ieff)^n
where n is number of years.
F = ($742) x (1 + 0.03453)^15
Thus, the answer is $1234.76.
Answer:
A
Step-by-step explanation:
Answer:
the answer is the second to the left :D
Step-by-step explanation:
each number is divided then you solve\
First you need to distribute the -8
So you would get -8x-8 now distribute the 3 so it would be 3x-6
-8x-8+3x-6=-3+2 is how it should look
Now combine the -8x and 3x cause their like terms and also -8 and -6
-5x-14=-3x+2 now add -3 to both sides
-2x-14=2 and add 14 to both sides
-2x=12 all left to do is divide both by -2
X=-6
