Answer:
Dan will have $1,531.53 after 5 years.
Step-by-step explanation:
To find the answer, you can use the following formula to calculate the future value:
F= P(1 + r)^t
F= Future value
P= Present value= 1200
r= rate of interest= 5%
t= time= 5
F=1200(1+0.05)^5
A=1200(1.05)^5
A=1531.53
According to this, the answer is that Dan will have $1,531.53 after 5 years.
3/3 the answer but i have to ask a question so please give this a good rating or something
Your interest formula is given to you.
<span>Interest in a year = principal (the amount invested) * rate (the interest rate) * period (the time you're measuring) </span>
<span>Interest = 55,000 * 2% * 1 year = 55,000 * 0.02 * 1 = $1,100 </span>
<span>How much would you need to have made for your spending power to keep with inflation? Your interest rate would have needed to match the inflation rate, otherwise, prices are going up faster than you're saving. </span>
<span>Required interest = 55,000 * 3.24% * 1 year = 55,000 * 0.0324 * 1 = $1,782 </span>
<span>How much buying power did you lose? The difference between your required interest and your actual interest. </span>
<span>Buying power lost = 1,782 - 1,100 = $682. You lost this much in buying power. </span>
Answer:
6
because when you subtract 6 from 6 you get 0
6 - 6 = 0
5/6 divided by 3/7?
simple mi amigo!~
7* 5= 35
3*6= 18
= 35/18
= 1 17/18
