Answer:
We conclude that the total amount accrued, principal plus interest, from compound interest on an original principal of $2500 at a rate of 5% per year compounded 6 times per year over 8 years is $3723.38.
Step-by-step explanation:
Given
Principle P = $2500
Interest rate r = 5% = 0.05
Time period t = 8 years
To determine
Accrue Amount A = ?
Using the compound interest equation

where:
A represents the Accrue Amount
P represents the Principal Amount
r represents the interest rate
t represents the time period in years
n represents the number of compounding periods per unit t
Important tip:
- Given that the interest is compounded 6 times each year, therefore, the value of n = 6.
now substituting P = 2500, r = 0.05, t = 8 and n = 6 in the equation



∵ 
$
Therefore, we conclude that the total amount accrued, principal plus interest, from compound interest on an original principal of $2500 at a rate of 5% per year compounded 6 times per year over 8 years is $3723.38.
1. 484.8
2.156.6
hope this helped :)
Parents will allow you to stream videos on your tablet if you agree to prepay the monthly bill. If the initial charge to set up an account is $50 and the monthly fee is $18, create a table that would represent the cost each month for the first year.
Every Month $68 $18 $18 $18 $18 $18 $18 $18 $18 $18 $18 $18
<span>Total For Year$68 $86 $104 $122 $140 $158 $176 $194 $212 $230 $248 $266 </span>
Answer: 21.3
Step-by-step explanation:
63.9 divided by 3 equal pieces is 21.3!
Answer:
144
Step-by-step explanation:
The sequence is:
0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, 2584, 4181, 6765, 10946
so you can see the first term larger than 120 is the 144.