2 years ago

$600 invested with compound interest at a rate of 4% per year for 10 years formula:M= P(1+i)^n

1 answer:

8 0

Answer: M = 2100$

Explanation:

M = P(1 + I)^n

P = 600$, I = 4% = 0.04, n = 10

=> M = 600(1 + 0.04)^10
M = 600(1.04)^10
M = 600(3.5)
M = 2100$

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A worker is paid $0.07 on the first day, $0.14 on the second day, $0.28 on the third day, and so on. How much is the worker paid

monitta

Answer:

D) Over $4,000,000

Step-by-step explanation:

On the last day, the worker is paid $0.07*2²⁵ (it's by the power of 25 because it's 0 on the first day), which is $2,348,810.24. That means that the amount of money earned on all other days are $2,348,810.37, since 2⁰ + 2¹ + 2² + 2³... + 2ⁿ⁻² + 2ⁿ⁻¹ = 2ⁿ + 1.

That totals to approximately $4.6 million dollars, which is larger than $4 million.

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3 years ago

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