Answer:
£ 6,564.70
Step-by-step explanation:
Henry places £6000 in an account which pays 4.6% compound interest each year. Calculate the amount in his amount after 2 years
Compound Interest formula =
A = P(1 + r/n)^nt
A = Final Amounrt
P = Principal = £6,000
r = Interest rate = 4.6%
t = Time in years = 2 years
n = Compounding frequency = Yearly = 1
First, convert R percent to r a decimal
r = R/100
r = 4.6%/100
r = 0.046 per year,
Then, solve our equation for A
A = P(1 + r/n)^nt
A = 6,000.00(1 + 0.046/1)^(1×2)
A = £ 6,564.70
The amount in his account after 2 years = £ 6,564.70
Answer:
m=(r/n)+0.114r
Step-by-step explanation:
m=monthly payment
r=remaining amount
n=# of months remaining
I will go about solving this using the elimination method.
First, convert the equations.
10x + y = -20
4x + y = -12
Second, find the easiest variable to get rid of and get rid of it! (In this case, y) We will subtract to get rid of y.
6x = -8
Third, you want to solve the equation.
6x = -8 (divide by 6)
x =

Fourth, solve for y by inserting the answer for x into one of the equations.
10(

) + y = -20

+ y = -20 (subtract

)
y =

The solution for this system of equations is (

,

).