Answer:
a. $10,943.30
b. $1,267.35
Step-by-step explanation:
P = $9,675.95
r = 6.25% = 0.0625
t = Compounded Semiannually = 2
a. Amount after 2 Years
n = 2
A = P [1 + (r / n)]^nt
A = $9,675.95 [1 + (0.0625 / 2)]² ˣ ²
A = $9,675.95 [1 + 0.03125]⁴
A = $9,675.95 [1.03125]⁴
A = $9,675.95 x 1.130982
A = $10,943.30
b. Compound Interest
Compound Interest = Final Amount - Principal Amount
Compound Interest = $10,943.30 - $9,675.95
Compound Interest = $1,267.35
To solve this, first make an equation:
After you solve this, you get x = 1.0399, but we have to subtract 1 so we get 0.0399 which is
3.99%
You should know how to ............
Answer:
85.4054%
Step-by-step explanation:
3.16/3.7 × 100
Divide.
0.854054 × 100
Multiply.
= 85.4054
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