the same price per pound?
Answer:
0.35 cents
Step-by-step explanation:
Answer:
it is $0.35 per pound
Step-by-step explanation:
1.75/5 = 0.35
You would end up with approximately $871.89 in your bank account after investing $650 for 60 months at an annual interest rate of 6%, if the bank compounds the interest yearly.
In this case, we are calculating the compound interest over a certain period. The formula for compound interest is:
P = C * (1 + r/n)^(nt)
Substitute the values into the formula:
P = $650 * (1 + 0.06/1)^(1*5)
Applying mathematics, we get an approximate final balance of $871.89
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