Answer:
15 units
Step-by-step explanation:
d = 14.866
d = 15
To calculate amount accrued after a given period of time we use the compound interest formula: A= P(1+r/100)∧n where A i the amount, P is the principal amount, r is the rate of interest and n is the interest period.
In the first part; A= $ 675.54, r= 1.25% (compounded semi-annually) and n =22 ( 11 years ), hence, 675.54 = P( 1.0125)∧22
= 675.54= 1.314P
P= $ 514.109 , therefore the principal amount was $ 514 (to nearest dollar)
Part 2
principal amount (p)= $ 541, rate (r) = 1.2 % (compounded twice a year thus rate for one half will be 2.4/2) and the interest period (n)= 34 (17 years×2)
Amount= 541 (1.012)∧34
= 541 ×1.5
= $ 811.5
Therefore, the account balance after $ 811.5.
Given:
1/2 loaf of bread
3 friends
1/2 ÷ 3 ⇒ 1/2 * 1/3 = 1*1 / 2*3 = 1/6
In dividing fractions, get the reciprocal of the divisor and multiply it to the dividend
The quotient, or resulting number, will decrease.
Answer:
$95.5090 must be deposited monthly
Step-by-step explanation:
From the information given:
The annual interest rate (r) = 4.2% = 0.042
Let assume that an amount Y is deposited, then after one month, it will increase to:
The total amount after 4 years will be:
Using the sum of a geometric progression:
The above amount is then equal to $5000
i.e
