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kami23arap5p78v
16.04.2021 •
Mathematics
Challenge Emily and Andy each go to a hardware store to buy wire. The table
shows the cost y in dollars for x inches of the wire they need. Emily needs
23 feet of the wire. Andy needs 11 yards of the wire. How much will each of
them spend for wire?
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Ответ:
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.