Number 5 and 6 please?
1 answer:
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Answer:
The principal investment required to get a total amount of $ 1,000,000.00 from compound interest at a rate of 6% per year compounded 12 times per year over 45 years is $ 67,659.17.
Step-by-step explanation:
Given
- Accrued Amount A = $1000000
- Interest rate r = 6% = 0.06
- Time period t = 45 years
- Compounded monthly n = 12
To determine:
- Principle amount P = ?
Using the formula
substituting A = 1000000, r = 0.06, t = 45, and n = 12
$
Therefore, the principal investment required to get a total amount of $ 1,000,000.00 from compound interest at a rate of 6% per year compounded 12 times per year over 45 years is $ 67,659.17.
Answer:
x = 5
Step-by-step explanation:
Applying Pythagoras' identity to the right triangle
x² + 12² = 13²
x² + 144 = 169 ( subtract 144 from both sides )
x² = 25 ( take the square root of both sides )
x = = 5