The formula for compound interest is:
A=P(1+r/n)^(nt)
Where A represents the amount of money in the account after t years, P is the principal (investment), n is the number of compoundings per year, and r is the interest rate in decimal form.
P=11,100
r=.031
n=12 (monthly)
t=19
A=11,100(1+.031/12)^(12*19)
A=11,100(1+. 002583)^(228)
A=11,100(1.002583)^(228)
A=11,100(1.80082)
A=$19,989.10
Answer:
-2, 3/7, 1/2, 1.2
Step-by-step explanation:
Increasing == least to greatest in value.
-2 = -2
3/7 = 0.429
1/2 = 0.5
1.2 = 1.2
Annual rate: 500*0.07 = 35
Year 1: 35
Year 2: 35
Year 3: 35
Year 4: 35
Year 5: 35+500=535
Total=675
Compounded annually
Year 1: 500*1.05=525
Year 2: 525*1.05=551.25
Year 3: 551.25*1.05=578.8125=578.81
Year 4: 578.8125*1.05=607.753125=607.75
Year 5: 607.753125*1.05=638.14
Answer:
should be 489.13
Step-by-step explanation:
Answer:
The fraction the clothing in the store are green shirts is 1/32
Step-by-step explanation:
∵ 1/8 of the clothes are shirts
∵ 1/4 of the shirts are green
∴ The fraction of green shirts are 1/8 × 1/4 = 1/32
