PLEASE HELP ME!! For the following exercise, use the compound interest formula,
where money is measured in dollars.
After a certain number of years, the value of an investment account is represented by the expression 10,400(1 +0.02/2)^20
had the account been accumulating interest?
How many years
A = $10,441.68
A = P + I where
P (principal) = $10,400.00
I (interest) = $41.68
Step-by-step explanation:
First, convert R as a percent to r as a decimal
r = R/100
r = 0.02/100
r = 0.0002 rate per year,
Then solve the equation for A
A = P(1 + r/n)nt
A = 10,400.00(1 + 0.0002/2)(2)(20)
A = 10,400.00(1 + 0.0001)(40)
A = $10,441.68
Summary:
The total amount accrued, principal plus interest, with compound interest on a principal of $10,400.00 at a rate of 0.02% per year compounded 2 times per year over 20 years is $10,441.68.
Columbia Records unveiled the LP (a vinyl record) in the Waldorf Astoria on June 18, 1948, in two formats: 10 inches in diameter, matching that of 78 rpm singles, and ... If the thickness of one vinyl record is 0.112∈, then determine the difference in volumes between the 10 inch and 12 inch records
Step-by-step explanation:
Here idk
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