1 Year: 19
2 Years: 9.50
3 Years: 4.75
4 Years: 2.38 (2.375, but rounded)
K = -18 to check, -4 + k/3 = -10 is the equation. -18/3 = -6, and -4 + -6 = -10. Mark as branliest if you can. :)
Answer:
$7153.03
Step-by-step explanation:
To find the total amount after 3 years, we can use the formula for compound tax:
P = Po * (1+r/n)^(t*n)
where P is the final value, Po is the inicial value, r is the rate, t is the amount of time and n depends on how the tax is compounded (in this case, it is semi-annually, so n = 2)
For our problem, we have that Po = 5000, r = 12.3% = 0.123, t = 3 years and n = 2, then we can calculate P:
P = 5000 * (1 + 0.123/2)^(3*2)
P = 5000 * (1 + 0.0615)^6
P = $7153.029
Rounding to the nearest cent, we have P = $7153.03
