Answer:
$ 5674.076
Step-by-step explanation:
The question is on compound interest
The formulae = A= P(1+ r/n) ^nt .......where P is the principal amount, r is the rate of interest in decimal, n is number of compoundings per year and t is the total number of years.
Given; P= $4,000.00 , r=12/100=0.12, n=2 and t=3
Substituting values in the equation A= P(1+ r/n) ^nt
A= 4000 ( 1+0.12/2)^2×3
A=4000(1.06)^6
A=$ 5674.08
Answer:
Hey and brainliest
Step-by-step explanation:
Answer:
$200
Step-by-step explanation:
Let X be the amount of Christmas money he had at the beginning.
He put 65% of X in the bank. This is 0.65x
He has $70 left which is equal to 0.35x
We need to write an equation to find the value of x.
70 = 0.35x
Divide by 0.35 to find the value of x.
70/0.35 = 0.35x/0.35
200 = x
He received $200 for Christmas.
