Daniel manages a store in the mall that sells sports clothing with the logos of different teams. Demand for basketball jerseys i
1 answer:
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Answer:
Principal = 3500
Time = 8 years
We are given that compound quarterly
So, No. of compounds per year = 2
Rate of interest = 5%
Formula :
Substitute the values :
Interest = 3863.345 - 3500 = 363.345
Hence the total amount in an investment of $3500 that was compounded quarterly for 8 years at a rate of 5% is $3863.345 and the interest that was made on that account mentioned is $363.345
Answer:
The number 1 is not necessary when expressing powers of one. For example, you needn't write "5" as .
Step-by-step explanation: