Question

I NEED HELP PLEASE!!!!!!!!!!!!!!!

Answer 1

Answer:

1,616.60

Step-by-step explanation:

we know that

The compound interest formula is equal to

A=P(1+\frac{r}{n})^{nt}A=P(1+

n

r

)

nt

where

A is the Final Investment Value

P is the Principal amount of money to be invested

r is the rate of interest in decimal

t is Number of Time Periods

n is the number of times interest is compounded per year

in this problem we have

\begin{gathered}t=5\ years\\ P=\$1,500\\ r=1.5\%=1.5/100=0.015\\n=4\end{gathered}

t=5 years

P=$1,500

r=1.5%=1.5/100=0.015

n=4

substitute in the formula above

A=1,500(1+\frac{0.015}{4})^{4*5}A=1,500(1+

4

0.015

)

4∗5

A=1,500(1.00375)^{20}A=1,500(1.00375)

20

A=\$1,616.60A=$1,616.60

Answer 2

Answer:

$2580

Step-by-step explanation:

$1500 dollars increased by 9%. In 8 years how much money he will have.

Ok, he has 1500 bucks in there

percents are an amount out of 100 so 9%=9/100

which, 9/100 in decimal form is .09

1500*.09 which is 135

135 dollars every year added

in 8 years, he will have earned 1080 bucks due to interest

1500+1080 which is 2580 dollars

he will have 2580