If you went to a store
2 answers:
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Answer:
After 9 years the account will be worth 13709.60$
Step-by-step explanation:
We are given the following in the question:
We are given the following in the question:
P = $8000
r = 6% = 0.046
n = 12
The compound interest is given by:
where A is the amount, p is the principal, r is the interest rate, t is the time in years.
Putting the values, we get,
Thus, after 9 years the account will be worth 13709.60$
In order to add these fractions we have to make a common denominator.
1/5 can turn into 2/10 Its the same thing. And its easier to solve with.
now lets multiply.
×
Now we add across
2 + 1 = 3
------------
10 + 10 = 10 ( When adding fractions like these the denominator stays the same)
So your answer is...
Good Luck! :)