Answer:A
Step-by-step explanation:
Answer:
The answer to this question is: (B)
Which is "14"
Step-by-step explanation:
Substitute the value of the variable into the equation and simplify.
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Given:
Leela invests 500 at 4.5%
VI = 500 x 1.045^t
Adele invests 500 at 4.5% but 2 years before Leela invested
Vi = 500 x 1.045^2+t
<span>The total value of Adele’s account is approximately what percent of the total value of Leela’s account at any time, t?
</span>
[500 x 1.045^2+t / 500 x 1.045^t] * 100%
1.045² x 100% = 1.092 x 100% = 109.2%
To check: t =1
Adele: 500 x 1.045^2+1 = 500 x 1.045³ = 570.58
Leela: 500 x 1.045^1 = 500 x 1.045 = 522.50
570.58 / 522.50 = 1.092
1.092 x 100% = 109.20%
Answer:
- The total amount accrued, principal plus interest, from compound interest on an original principal of $ 300.00 at a rate of 6% per year compounded 2 times per year over 0.5 years is $ 309.00.
- The total amount accrued, principal plus interest, from compound interest on an original principal of $ 300.00 at a rate of 6% per year compounded 2 times per year over 1 year is $ 318.27.
Step-by-step explanation:
a) How much will you have at the middle of the first year?
Using the formula

where
Given:
Principle P = $300
Annual rate r = 6% = 0.06 per year
Compound n = Semi-Annually = 2
Time (t in years) = 0.5 years
To determine:
Total amount = A = ?
Using the formula

substituting the values



$
Therefore, the total amount accrued, principal plus interest, from compound interest on an original principal of $ 300.00 at a rate of 6% per year compounded 2 times per year over 0.5 years is $ 309.00.
Part b) How much at the end of one year?
Using the formula

where
Given:
Principle P = $300
Annual rate r = 6% = 0.06 per year
Compound n = Semi-Annually = 2
Time (t in years) = 1 years
To determine:
Total amount = A = ?
so using the formula

so substituting the values


$
Therefore, the total amount accrued, principal plus interest, from compound interest on an original principal of $ 300.00 at a rate of 6% per year compounded 2 times per year over 1 year is $ 318.27.