A = P(1+i)ⁿ, where P = original value, " i " = growth rate, n= #years; A= actual value:
A = 5000(1+0.11)¹⁰
A= 5000(1.11)¹⁰
A = $14,197.1
Since he has 24 trees and 4 kinds of trees you divide them and get 6 that means there 6 trees in one kind so he already watered 2 kinds of trees and so you have 2 kinds of trees left so you do 6 × 2 = 12
the answer is 12
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
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