That's how i did it step by step. i'm fairly confident that i'm right, but if i'm not, i'm so sorry. have a good day! (:
pls help i need this now subtract -9 1/3 - ( - 1 1/3 enter your answer as a simplified fraction in the box
1 answer:
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Answer:
$1480.24
Step-by-step explanation:
This will be solved by the formula:
Where
FV is the future value (what we are looking for)
I is the initial amount (which is $1000)
r is the rate of interest per period (8% is annual interest, but the period is SEMI-ANNUAL, that's 6 months, half of yearly. So r would be half of 8%, which is 4% or r = 0.04)
t is the times compounding occurs in the whole time (The whole time period is 5 years, but compounding occurs semi-annually, so 5*2 = 10 times. Thus, t = 10)
<em>plugging the info into the formula we will get our answer.</em>
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