Question 14) 3³
question 15) 100/9
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In the real world you are not going to have a calculator on you 24/7. Nor will you have a pencil or paper to do longhand. You need to know how to accurately estimate your answers in order to be successful.
Hello kiddio lets figure this out!
The formula for simple interest is I = P*R*T where I = interest, P = Principal (original amount), R is the rate as a decimal, and T is time in years. So I = 1500*(.05)*6 = 1500*(0.30) = $450. The total amount you have after 6 years is the amount you started with ($1500) plus the interest ($450) which is $1950. The formula for yearly compounding is A = P(1 + r)t where A = Accumulated or final amount P = Principal ($1500) r = interest rate as a decimal (0.05)t = time (6 years) A = 1500*(1 + 0.05)6 = 1500*(1.05)6 = $2010.14
Have a nice day
The Answer for your question is True......