A certain company keeps a list of 50 employees and their annual salaries. When the salary of the very highly paid president is a
1 answer:
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To solve this, we are going to use the compound interest formula: 
where
is the final amount after 
years
tex]P[/tex] is the initial investment
is the interest rate in decimal form
is the number of times the interest is compounded per year
is the time in years
We know form our problem that the initial invest is <span>$30,000 and the period is ten years, so </span>
and 
. We also know that the interest is compounded one time per year, so 
. To convert the interest rate to decimal form, we are going to divide the rate by 100%
Lets replace the values in our formula:
Replacing with 
:
We can conclude that the correct answer is D.
Now, to find <span>much Yolanda will have after 10 years, we just need to perform the operations in our equation:
</span>
We can conclude that Yolanda will have $64,170.54 in her account after ten years of earning <span>a compound interest rate of 7.9% per year.</span>
where
tex]P[/tex] is the initial investment
We know form our problem that the initial invest is <span>$30,000 and the period is ten years, so </span>
Lets replace the values in our formula:
Replacing
We can conclude that the correct answer is D.
Now, to find <span>much Yolanda will have after 10 years, we just need to perform the operations in our equation:
</span>
We can conclude that Yolanda will have $64,170.54 in her account after ten years of earning <span>a compound interest rate of 7.9% per year.</span>