With compound interest, what happens when you start compounding more and more frequently?
1 answer:
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In this question it is given that
Carla earns $8.43 per hour. It means that her hourly rate is $8.43 .
And we have to find her overtime pay at time-and-a-half.
First we have to understand what time and a half means .
Time and a half means 1.5 times of the normal rate. And to find the overtime pay, we have to multiply 1.5 and normal hourly rate. That is
Therefore correct option is a .
Just plug in 500 for p, 0.2 for r (because 20% is equivalent to 0.20), and 2 for t:
So, if you start with $500 and charge an interest rate of 20% for 2 years, you will gain $200 to get $700 in total.
So, if you start with $500 and charge an interest rate of 20% for 2 years, you will gain $200 to get $700 in total.