Respuesta :
Answer:
A = $27,445.50
Step-by-step explanation:
Equation:
A = P(1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 0.0825%/100 = 0.000825 per year.
Solving our equation:
A = 27000(1 + (0.000825 × 20)) = 27445.5
A = $27,445.50
The total amount accrued, principal plus interest, from simple interest on a principal of $27,000.00 at a rate of 0.0825% per year for 20 years is $27,445.50.
Answer: $11741
Step-by-step explanation:Rate 1: 8
4
1
%=8+1/4=
\,\,8.25\%\rightarrow 0.0825
8.25%→0.0825
\text{Rate 2: }8\tfrac{5}{8}\%=8+5/8=
Rate 2: 8
8
5
%=8+5/8=
\,\,8.625\%\rightarrow 0.08625
8.625%→0.08625
\text{Calculate Final Amount for Aubree}
Calculate Final Amount for Aubree
\overline{\phantom{\text{Calculate Final Amount for Aubree}}}
Calculate Final Amount for Aubree
\text{Compounded Monthly:}
Compounded Monthly:
A=P\left(1+\frac{r}{n}\right)^{nt}
A=P(1+
n
r
)
nt
P=27000\hspace{35px}r=0.0825\hspace{35px}t=20\hspace{35px}n=12
P=27000r=0.0825t=20n=12
A=27000\left(1+\frac{0.0825}{12}\right)^{12(20)}
A=27000(1+
12
0.0825
)
12(20)
A=27000(1.006875)^{240}
A=27000(1.006875)
240
A=139796.9278
A=139796.9278
\text{Calculate Final Amount for Addison}
Calculate Final Amount for Addison
\overline{\phantom{\text{Calculate Final Amount for Addison}}}
Calculate Final Amount for Addison
\text{Compounded Continuously:}
Compounded Continuously:
A=Pe^{rt}
A=Pe
rt
P=27000\hspace{35px}r=0.08625\hspace{35px}t=20
P=27000r=0.08625t=20
A=27000e^{0.08625(20)}
A=27000e
0.08625(20)
A=27000e^{1.725}
A=27000e
1.725
A=151538.0678
A=151538.0678
\text{How much more money Addison has:}
How much more money Addison has:
151538.0678-139796.9278
151538.0678−139796.9278
