Answer:
Step-by-step explanation:
1000m=1k
3,500m=3.5k
500m=.5k
75m=0.075k
1m=0.001
1000 divided by 100 is 10. 10 x 5 is 50. After the first year, Sue has 1050. But compound interest is interest on the amount AFTER the amount is added, so she will now earn interest on 1050. 1050 / 100 is 10.5. 10.5 x 52.50.
52.50 + 50 = 102.50. The answer is D. Hope this helps :)
Answer:
none lul
Step-by-step explanation:
my noggin
Answer:
13.4%
Step-by-step explanation:
First year:
$10,000*6% = $600
New balance = $10,600
Second Year:
$10,600*7% = $742
$10,600+ $742 = $11,342
Total Return:
Final Balance - Initial balance
$11,342 - $10,000 = $1,342
$10,000*x ÷ $1,342
x = $1,342/$10,000
x = 0.1342
0.134 = 13.4%
