Answer:
$755.80
Step-by-step explanation:
Determine the compound amount first and then subtract the principal from it, to find the amount of interest.
The compound amount formula is A = P (1 + r/n)^(nt), where
P is the initial principal, r is the interest rate as a decimal fraction, n is the number of compounding periods per year, and t is the number of years. Here, P = $2179; t = 5 yrs; r = 0.06; and n = 4 (quarterly compounding).
We get:
A = $2179(1 + 0.06/4)^(4*5), or $2179(1.015)^20, or $2179(1.347) = $2937.80.
The compound amount is $2934.80. Subtracting the $2179 principal results in the interest earned: $755.80.
There are 81 band members. :-)
4 rows of 20 = 80 ... with one left over = 80 + 1 (81)
6 rows of 13 = 78 ... with three left over = 78 + 3 (81)
7 rows of 11 = 77 ... with four left over = 77 + 4 (81)
S(p) = 400 - 4p + 0.00002p^4
D(p) = 2800 - 0.0012p^3
S(p) = D(p)
400 - 4p + 0.00002p^4 = 2800 - 0.0012p^3
0.00002p^4 + 0.0012p^3 - 4p - 2400 = 0
p = $96.24
