First, we convert the interest such that it is compounded annually. The formula would be:
ieff = (1 + i/m)^m - 1
where m = 4, since there are 4 quarters in a year
ieff = (1 + 0.025/4)^4 - 1
ieff = 0.0252
Then we use this for this equation:
F = P(1 + i)^n, where F is the future worth, P is the present worth and n is the number of years
F = $600(1 + 0.0252)^15
F = $871.53
Answer:
$1983.75
Step-by-step explanation:
1725 x 0.15 = 258.75
now add to the original price
1725 + 258.75= 1983.75
Maybe B (not sure).................
Answer:
49 percent
Step-by-step explanation:
So convert the fraction into a percentage
245/500= 49%
