Answer:
44
__
3
<u>(another way to put it)</u>
44/3
16i equals an amount to no other as it is majestic and formal. 16i equals nothing else than life it's self...
Step-by-step explanation:
Let's look at what we know. We know that...
P=2000
r=0.04 (Change 4% to a decimal)
t=7 (25 years minus 18 years equals 7)
n=1
Since we are compounding each year, we need to use this equation:
Now just plug the numbers in: (Answer to #1:)
This equals 2631.86
When we round, this equals to $2,632. (Answer to #2).