I hope this helps you understand the steps to get your answer...
Answer:
<em>The interest earned is $302.18</em>
Step-by-step explanation:
<u>Compound Interest
</u>
It occurs when the interest is reinvested rather than paying it out. Interest in the next compound period is earned on the principal sum plus previously accumulated interest.
The formula is:
![{\displaystyle A=P\left(1+{\frac {r}{n}}\right)^{nt}}](https://tex.z-dn.net/?f=%7B%5Cdisplaystyle%20A%3DP%5Cleft%281%2B%7B%5Cfrac%20%7Br%7D%7Bn%7D%7D%5Cright%29%5E%7Bnt%7D%7D)
Where:
A = final amount
P = initial principal balance
r = interest rate
n = number of times interest applied per time period
t = number of time periods elapsed
The investment described in the question is of P=$600 at a rate of r=6%=0.06 for t=7 years compounded annually. The compounding period coincides with the time of interest rate, thus n=1.
Applying the formula:
![{\displaystyle A=600\left(1+{\frac {0.06}{1}}\right)^{1*7}}](https://tex.z-dn.net/?f=%7B%5Cdisplaystyle%20A%3D600%5Cleft%281%2B%7B%5Cfrac%20%7B0.06%7D%7B1%7D%7D%5Cright%29%5E%7B1%2A7%7D%7D)
![{\displaystyle A=600\left(1.06}\right)^{7}}](https://tex.z-dn.net/?f=%7B%5Cdisplaystyle%20A%3D600%5Cleft%281.06%7D%5Cright%29%5E%7B7%7D%7D)
A = $902.18
The interest is:
I = A - P = $902.18 - $600 = $302.18
The interest earned is $302.18
Answer:
0
Step-by-step explanation:
180-180=0
counter clockwise
Answer:
3.14
Step-by-step explanation:
if you want the exact answer you can multiply 7 by the value of
, that is = 3.14