Answer:
The amount the $20.000 will be worth in 17 years at compound interest is $65068.443
Step-by-step explanation:
Here we have the Principal, P = $20,000.00
The annual interest rate, r = 7% = 0.07
Time , t = 17 years
Number of compounding period per year, m = quarterly = 4
The compound interest can be found from the following formula;
![Amount, \ A = P \left (1 + \frac{1}{r} \right )^{mt}](https://tex.z-dn.net/?f=Amount%2C%20%5C%20A%20%3D%20P%20%5Cleft%20%281%20%2B%20%5Cfrac%7B1%7D%7Br%7D%20%20%5Cright%20%29%5E%7Bmt%7D)
Therefore, by plugging the values of the equation parameters, we have;
![Amount, \ A = 20000 \left (1 + \frac{0.07}{4} \right )^{4 \times 17} = \$ 65068.443](https://tex.z-dn.net/?f=Amount%2C%20%5C%20A%20%3D%2020000%20%5Cleft%20%281%20%2B%20%5Cfrac%7B0.07%7D%7B4%7D%20%20%5Cright%20%29%5E%7B4%20%5Ctimes%2017%7D%20%3D%20%5C%24%20%2065068.443)
Therefore, the amount the $20.000 will be worth in 17 years at compound interest = $65068.443.
Answer: 15
Step-by-step explanation:
Step 1: Subtract 3 from both sides.
Step 2: Multiply both sides by 5/2.
Answer:
The radius is 25 in., circumference is 207
Step-by-step explanation:
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Simplify -45/6 to -15/2, and your answer as a decimal will be -7.5.