Answer:
Total amount that Matthew's bank will receive is $10099.81.
Step-by-step explanation:
We need to find the amount Matthew's bank will receive after lending him $8,000 for four years at an interest rate of 6 percent, compounded annually.
The formula for compound interest is:
Where A = future value
P= Principal Amount
r = interest rate
and n= time
So in the question we are given:
P= $8000
r = 6% or 0.06
t = 4 (since 4 yeras compounded annually)
A= 8000*(1+0.06)^4
A= 8000*(1.06)^4
A= 10099.81
So, total amount that Matthew's bank will receive is $10099.81.
Should be 1,188 , because 1,188 divided by six would be 198, hope I could help
Velocity is a measure of both speed and direction of motion. Velocity is a vector, which is a measurement that includes both size and direction. Velocity can be represented by an arrow, with the length of the arrow representing speed and the way the arrow points representing direction.
Answer:
Step-by-step explanation:
Answer:
10.063333333... and so forth and yes this is good evidence that it is a good example
Step-by-step explanation: all the numbers added together and divided by how many numbers there were (6)