Answer:
Your answer is A
Step-by-step explanation:
Its just simple counting
Answer:
Step-by-step explanation:
For compound interest, we use the formula A = P(1 + r/n)^{nt}, where A is the amount, P is the principle, r is the rate, n is the number of times compounded per period of time, and t is the time.
We can alter this for a decrease. Instead of adding r/n to 1, we can substract it:
A = 17,600 * (1 - 0.01175 / 1)^{1 * 11} = 15,454.24
After 11 years, the car will be worth $15,454.24
The answer is for this question is D
Answer:
Compound interest
Step-by-step explanation:
The question requires us to determine if the interest earned is a simple or compound interest
Simple interest = amount deposited x time x interest rate
Future value with compounding = A( 1 + r)^n
A = amount deposited
r = interest rate
n = time
We would calculate the simple interest and the future value in year 2
Simple interest in year 2 = $3500 x 0.0375 x 2 = 262.50
Future value in 2 years with a simple interest = 262.50 + 3500 = $3762.50
Future value in year 2 with compounding = 3500 x (1.0375)^2 = $3767.42
The value provided in year 2 with compounding matches that provided in the question. Thus, it is compounding of interest that is done
Answer: 1/3
Step-by-step explanation:
