The effective annual interest rate is:
i = (1 + 0.064/12)^12 - 1 = 0.066
In year 1: the interest is $613.80 (multiple $9300 by 0.066)
In year 2: the interest is $654.31 (add interest from year 1 to $9300 and multiply by 0.066)
In year 3: the interest is $656.98 (do the same as year 2)
In year 4: the interest is $657.16
The total interest is: $2582.25
The present worth of this amount is:
P = 2582.23 / (1 + 0.066)^4 = $1999.72
The answer is $1999.72.
Answer:
B.4/11
Step-by-step explanation:
hope it helps
consider making my answer as BRAINLIST
Answer:
3
Step-by-step explanation:
change 1 to an improper fraction
1 = , thus
× = = 3 or 3.57 ( to 2 dec. places )
Answer:
0.5027 square meters
Step-by-step explanation:
cm2
Answer:$1.4
Step-by-step explanation:4.90 / 3.5 = 1.4 Hope tis helps :)