Grant made a $2800 investment that piece is simple interest rate at 6% per year. To the nearest hundredth which of the following
2 answers:
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Answer:
$1445.11
Step-by-step explanation:
The formula to use would be:
Where
F is the future amount (what we want to find)
P is the present (principal) amount (this is 400)
r is the rate of interest, monthly (1.8% or 0.018)
t is the time in months (6 years = 6 * 12 = 72)
Now substituting, we get:
After 6 years, the CD will be worth $1445.11
Answer:
Avery needs to pay $14.84
Step-by-step explanation:
When there's a tax we need to sum the original value of the product with the tax's value. To find the amount of money Avery needs to pay in taxes we can apply a rule of three as shown below:
Where "x" is the tax value, and $14 represents 100%, since it's the value used to calculate the tax. We have:
The value to be paid is the product value plus the tax, therefore:
Avery needs to pay $14.84