Answer:
$522.99
Step-by-step explanation:
Fv = total amount plus interest over the given period of time
P = Principal amount deposited i.e $500
r = interest given 1.5% i.e 0.015
n = period of time the principal remains deposited. In this case annually i.e 12 months
FV = $522.99
The expression 12xyz - 45 is a binomial because there are two terms that is being separated by the operation '-'. 12xyz is one term; 45 is another term. That makes two terms. Binomial is a polynomial with 2 terms.
9514 1404 393
Answer:
$6307.95
Step-by-step explanation:
The compound interest formula can help with that.
A = P(1 +r/n)^(nt) . . . . value of principal P at rate r for t years, compounded n times per year.
P = A(1 +r/n)^(-nt) = $8000(1 +0.04/2)^(-2·6) = $8000(1.02^-12) = $6307.95
Momba needs to deposit $6307.95 today to have $8000 in 6 years.