Find the total amount you will pay given an original price of $24.99 and tax rate of 5%.
1 answer:
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Answer:
- Annabella will save $4950.11 after 2 years.
Step-by-step explanation:
<h3>Given</h3>- Periodic payment P = $200,
- Period t = 2 years,
- Number of compounds, monthly n = 12,
- Interest rate, r = 3.2% = 0.032.
- Future value of saving, F
Use periodic compound formula:
Substitute the values and calculate:
rounded