We have been given that Nicolas has $6,500 to deposit into an account which earns 3.25% interest compounded annually. We are asked to find amount of interest earned at the end on 8 years.
We will use compound interest formula to solve our given problem.
, where,
A = Final amount,
P = Principal amount,
r = Annual interest rate in decimal form,
n = Number of times interest is compounded per year,
t = Time in years.
Now we will subtract principal amount from final amount to find amount of interest as:
Therefore, Nicolas would have earned $1895.25 in interest at the end of 8 years.
Answer:
61%
Step-by-step explanation:
in order to convert decimals to percentages, you just multiply by 100.
.61 * 100 = 61%
Answer:
if you divide it by 2, you would have 128 slices because 256 ÷ 2 gives you 128, and when you multiply 128 by 2 you get 26.
Step-by-step explanation:
Less than 3 is about 10.75% and greater than 13 is about 6.18%.
To find these percents, you need to find the z-score for each value. Then, use your table to find the correct percent. Be sure to find the side above 13 when you use your chart.
For less than 3:
(3 - 7.45) / 3.6 = -1.24 = The percent below this is 0.1075
For greater than 13:
(13 - 7.45) / 3.6 = 1.54 = The percent above this is 0.0618
Answer:
Step 1: Write your hypotheses and plan your research design
Step 2: Collect data from a sample
Step 3: Summarize your data with descriptive statistics
Step 4: Test hypotheses or make estimates with inferential statistics
Step 5: Interpret your results
Step-by-step explanation: