Answer:
Yes, she should.
Step-by-step explanation:
5% may not seem like a lot. Lets say she deposits $20 per month. That's $240 a year. Lets also say you keep this for 6 years, you'll have $72 from interest. The more amount she puts in the more she'll gain.
First, converting R percent to r a decimal
r = R/100 = 5%/100 = 0.05 per year,
then, solving our equation
I = 240 × 0.05 × 6 = 72
I = $ 72.00
The simple interest accumulated
on a principal of $ 240.00
at a rate of 5% per year
for 6 years is $ 72.00.
AAS
(20 characters minimum)
Answer:
Step 4
Step-by-step explanation:
Bryan wants to ship three medium-sized boxes. Two companies offer different rates.
Company Rate
A
$14.65 per box
B
First box is free, $16.20 for any additional boxes
Bryan used the six steps to solve this problem. On one of the steps, he decided that he would use multiplication and addition to compare the companies and find the best rate. Which step did Bryan use to help him decide?
<h3>The worth after 4 years is $ 680.24</h3>
<em><u>Solution:</u></em>
<em><u>The formula for compound interest, including principal sum, is:</u></em>
Where,
A = the future value of the investment
P = the principal investment amount
r = the annual interest rate (decimal)
n = the number of times that interest is compounded per unit t
t = the time the money is invested
From given,
n = 1 ( since interest is compounded annually)
p = 500
t = 4
<em><u>Substituting the values we get,</u></em>
Thus the worth after 4 years is $ 680.24
