Answer:
The amount that should be in the account after 15 years is $95,321.85
Step-by-step explanation:
According to the given data, we have the following:
monthly amount of $220=R
interest rate is fixed at 2.05%. We require the monthly ineterest rate, hence monthly interest rate= 2.05%/12=0.1708%=0.0017
t=15years×12=180 months
In order to calculate how much should be in the account after 15 years, we would have to use the following formula:
Ap=<u>R(1-(1+i)∧-t)</u>
i
Ap=<u>220(1-(1+0.0017)∧-180)</u>
0.0017
Ap=<u>162,04</u>
0.0017
Ap=$95,321.85
The amount that should be in the account after 15 years is $95,321.85
<u />
Answer:
3.590.04
Step-by-step explanation:
The formula given for total amount saved when compounding interest =
A = P(1 + r/n)^nt
Where
A = Total amount saved after t years
P = Principal or initial amount saved
r = Interest rate
n = compounding frequency
t = time in years
From the above question
P = 3000
r =6% = 0.06
n =compounded monthly = 12
t = 3 years
Hence,
A = 3000(1 + 0.06/12)^3 × 12
A = 3000(1 + 0.06/12)^36
A = 3,590.04
Therefore, the total amount Imran will have in his account after 3 years = 3,590.04
Let X is the random number Erik thinks of, and Y is the random number Nita thinks of.
Both X and Y are in the range from 0 to 20.
<span>X<=20
Y<=20
If the difference between their two numbers is less than 10, then Erik wins.
The difference between the two numbers can be written X-Y, or Y-X depending on which number (X or Y) is greater. But we do not know that. In order not to get negative value, we calculate absolute value of X-Y, written |X-Y| which will give positive value whether X is greater than Y or not.
If |X-Y|<10 Erik wins.
</span><span>If the difference between their two numbers is greater than 10, then Nita wins.
</span><span>If |X-Y|>10 Nita Wins
</span>
Answer:
150 * 0.27777777778 kg = 41.666666667 kg.
Answer:
Step-by-step explanation:
