Compound interest functions can be represented as [(1+i)^t]*n, where i = interest rate t = time n = original number [(1.05)^5]*1500 = $1914.42
If compounded, interest = 81.244 and balance = 456.245 If not compounded, interest = 75 and balance = 450
102102.52
Use the equation I= Prt P= Principal amount(starting)r= Rate as a decimalt=timeI = (55)(0.04)(5)= 11Therefore, he will earn $11 in interest after 5 years.
$4.63
Compound interest functions can be represented as [(1+i)^t]*n, where i = interest rate t = time n = original number [(1.05)^5]*1500 = $1914.42
472.5 i converted 6.3% to .063. multipled that by 1500 to find 6.3% of 1500 and multipled this by 5
Simple interest, 500 + (5 x 5 x 4) = 600. Compound 500 x 1.04^5 = 632.66
If compounded, interest = 81.244 and balance = 456.245 If not compounded, interest = 75 and balance = 450
102102.52
If 1500 dollars is invested at an interest rate of 3.5 percent per year compounded continuously, after 3 years it's worth $1666.07, after 6 years it's $1850.52, and after 18 years it's worth $2816.42.
Use the equation I= Prt P= Principal amount(starting)r= Rate as a decimalt=timeI = (55)(0.04)(5)= 11Therefore, he will earn $11 in interest after 5 years.
$4.63
1500/5=300 300/5=60 60/5=12 12/3=4 4/2=2 5*5*5*3*2*2
If the interest is simple interest, then the value at the end of 5 years is 1.3 times the initial investment. If the interest is compounded annually, then the value at the end of 5 years is 1.3382 times the initial investment. If the interest is compounded monthly, then the value at the end of 5 years is 1.3489 times the initial investment.
$150. 5% interest per $1000 is $50 per year. You had the loan 3 years- $50 x 3.
If this is annual compounding, then after 4 years it is 1380x, and after 5 years it is 1380 x².Now you have an equation to find x:1380x² = 1500x² = 1500/1380 = 1.086956522, sox = sqrt(1.086956522) = 1.04257207So the ratio between 3 years and beginning is x³ = 1.133230511 and:1380/ 1.133230511 = 1217.76 (rounded to nearest penny)