Answer: the value of the account after 6 years is $101559.96
Step-by-step explanation:
If $64,000 is invested in an IRA account, then
Principal = $64,000
So P = 64,000
The rate at which $64000 was compounded is 8%
So r = 8/100 = 0.08
If it is compounded once in a year, this means that it is compounded annually (and not semi annually, quarterly or others). So
n = 1
We want to determine the value of the account after 6 years, this means
time, t = 6
Applying the compound interest formula,
A = P(1 + r/n)^nt
A = amount after n number of years
A = 64000( 1 + 0.08/1)^1×6
A = 64000(1.08)^6
A= 64000×1.58687432294
A= 101559.956668416
Approximately $101559.96 to 2 decimal places
Answer:
3.
2<em>C.</em>
2<em>B.</em>
2<em>A.</em>
1.
Step-by-step explanation:
3. <em>See</em><em> </em><em>above</em>.
2<em>C</em>. The keyword is ratio, which signifies division, so you would choose "III.".
2<em>B</em>. The keyword is percent, which signifies multiplication of a ratio by 100, so you would choose "I.".
2<em>A</em>. The keyword is total, which signifies addition, so you would choose "II.".
1. Base this off of the denominator. Knowing that the denominator CANNOT be zero, you will get this:
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The remaining area is 20% of the previous area.
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The answer is 1 / 4
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To solve any algebraic equation, we want to get x by itself. Here, x is accompanied by 3.6. So that means we have to get rid of 3.6. To get rid of 3.6, one can either subtract 3.6 from both sides or add -3.6 to each side.