5% compounded 6 times per year. What will
the account balance be after 20 years?
A) $16,031.88 B) $17,704.05
C) $15,329.01 D) $16,844.10
Answer:
B) $17,704.05
Step-by-step explanation:
20 years later is a time in the future so you use Future value formula;
FV = PV* (1+r)^t
where PV= Amount invested in the present = $6,540
r= discount rate = (5% / 6) = 0.833% or 0.00833
t= total duration = 20 *6 = 120
Next, plug in the numbers into the formula;
=6,540* (1+0.00833)^120
=6,540 * 2.707041491
= 17,704.05
8<-5x+20 is one possible answer. it depends on how they are writing it. you need to do the distributed property.
Aiden baked a total of 96 muffins by converting 8 dozen muffins into individual units. The calculation involved multiplying the number of dozens by 12.
To determine the total number of muffins, Aiden baked:
Here's the step-by-step calculation:
Therefore, Aiden baked a total of 96 muffins.
Learn more about unit conversion here:
#SPJ6