5000(1+.085/4)^n=1000
to find n use log:
1.02125^n
N X log1.02125
when computed=32.9
round to 33 quarters compounded
33/4
equals to 8 years 3 months
Answer:
y=1
Step-by-step explanation:
4(1+2y)=12y
4*1 + 4*2y=12y
4 + 8y=12y
4=12y - 8y
4=4y
4/4=y
1=y
Answer:
$6725
Step-by-step explanation:
Given data
Princiapal= $5000
Rate=2.3%
Time= 15years
The function that will model this situation is given as
A=P(1+rt)
The above function is a simple interest function
Substitute our data we can find the amount A
A=5000(1+0.023*15)
A= 5000(1+0.345)
A=5000(1.345)
A=5000*1.345
A=$6725
Hence the value of the investment after 15 years is $6725
If the 2 is little and on top of the a, then it's called "nine a squared."
