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3)
Principal Amount = P = $7200
Interest rate = r = 4% = 0.04
Time = t = 8 years
Formula for compounding is:
Using the values, we get:
Therefore, the compounded amount will be $9853.70
4)
Principal Amount = P = $7200
Compounded Amount = A = $9853.70
Interest Earned = Compounded Amount - Principal Amount
So,
Interest Earned = 9853.70 - 7200 = $2653.70
Therefore, $2653.70 will be earned as interest over a period of 8 years.
Principal Amount = P = $7200
Interest rate = r = 4% = 0.04
Time = t = 8 years
Formula for compounding is:
Using the values, we get:
Therefore, the compounded amount will be $9853.70
4)
Principal Amount = P = $7200
Compounded Amount = A = $9853.70
Interest Earned = Compounded Amount - Principal Amount
So,
Interest Earned = 9853.70 - 7200 = $2653.70
Therefore, $2653.70 will be earned as interest over a period of 8 years.
Answer:
Edna = 56.5
Elsa = 57.5
Step-by-step explanation:
Represent Edna age with x; Elsa age will be x + 1
So,
Make 2x the subject
Solve for x
Elsa age is calculated as thus;