The equation for this is:
F = P(1+i)ⁿ
where
F is the present accounts balance
P is the initial deposit
i is the interest rate
n is the number of months
The interest rate is nominal which is 2.9% per year compounded monthly. Since there are 12 months in a year, that is equal to an effective interest rate of 0.24167% per month compounded monthly (i = 0.0024167). In 9 years, there are a total of 108 months, so n=108.
<span>$2033.88 = P(1+0.0024167)</span>¹⁰⁸
P = $1567.147
Answer:
Step-by-step explanation:
11. 76x + 23x = 33
99x = 33
x = 33/99 which reduces to 3
12. 140r - 8r - 4r = 216
128r = 216
r = 216/128 which reduces to 27/16
13. 98c - 99c = 1
-1c = 1
c = -1/1
c = -1
14. 104mn + (-84mn) = 36
104mn - 84mn = 36
20mn = 36
mn = 36/20 which reduces to 9/5....I am not sure about this one...I was not sure if u were looking for m or n..so I didn't separate them. But if ur looking for m, it is m = 9/5n...and if ur looking for n, it is n = 9/5m
15. 118j - 234j = 234
- 116j = 234
j = -234/116 reduces to - 117/58
Answer:
view the picture
Step-by-step explanation:
It is self explanatory
