Laurenhahahahah
19.05.2020 •
Mathematics
Mark has invested $300 at age 16 into a money market account earning 6%. How many times will Mark's investment double before age 52? What will his investment be worth? What would Mark's investment be if he had invested at age 28?
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Ответ:
A.3times
B.$1214.68
Step-by-step Explanation
A
Using compound interest formula
A=P(1+I)^n
A is the amount
P is the principal=$300
I is the interest=0.06
n is the time ( between 52 and 16years)=36years
A=300(1+0.06)^36
A=$2444.175
Which means 300 would have become
$2444.175 which is 8 folds.
That means it would have doubled 3times(2×2×2) at age of 52.
B. The time would change to (52-28)=24
Using compound interest formula
A=300(1+0.06)^24
A=$1214.68
Therefore his investment would have been $1214.68.
Ответ:
360 degrees and 2pi radians is one revelation
Step-by-step explanation: