Joe goes on Monday and buys a pair of pants that were regulary $45.00 What does he pay for the pants?
1 answer:
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Hi there!
• Principle amount, P = $ 7, 250
• Rate of interest, r = 12 %
• No. of weeks in an year, n = 52
• Time period, t = 10 years
Aₜ = P [ 1 + (
) ] ᴺ ˣ ᵀ
A₁₀ = 7, 250 [ 1 + (
) ] ⁵² ˣ ¹⁰
Simplifying :-
A₁₀ = $ 24,037.59
Hence,
Option [ 1. ] - $ 24,037.59 is Correct
~ Hope it helps!
• Principle amount, P = $ 7, 250
• Rate of interest, r = 12 %
• No. of weeks in an year, n = 52
• Time period, t = 10 years
Aₜ = P [ 1 + (
A₁₀ = 7, 250 [ 1 + (
Simplifying :-
A₁₀ = $ 24,037.59
Hence,
Option [ 1. ] - $ 24,037.59 is Correct
~ Hope it helps!