<span>Compound Interest is calculated on the initial payment and also on the interest of previous periods.
So after 1 year w/ 5% interest, $10 -> $10*1.05 = $10.5
after 2 year, the total becomes $10.5*1.05 = $11.025
formula to calculate is 10*(1.05)^50 = $114.67
ans is A</span>
http://www.purplemath.com/modules/specfact.htm
Answer:
Bryce is wrong in step 1 because he did not distribute 3 over 5/3
Explanation
Given the steps taken by bryce as shown, we are to find where he made an error
Given the expression;
Step 1:Expand the bracket using the distributive law;
8/3 = 3c + 3(5/3)
<em>Simplify</em>
8/3 = 3c + 15/3
Step 2: Subtract 15/3 from both sides
8/3 - 15/3 = 3c+15/3-15/3
(8-15)/3 = 3c
-7/3 = 3c
Step 3: Multiply both sides by 1/3
-7/3 * 1/3 = 3c * 1/3
-7/9 = c
Swap
c = -7/9
From the calculation, we can see that Bryce is wrong in step 1 because he did not distribute 3 over 5/3 thereby making his solution incorrect
Answer:
114.8
Step-by-step explanation:
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