Sofia is investing $8,000 in an account paying 5.5% interest compounded quarterly. What will Sofia's account balance be in 7 years?

Compound Interest:

P: the principal, amount invested

A: the new balance

t: the time

r: the rate, (in decimal form)

n: the number of times it is compounded.

Ex2:Suppose that $5000 is deposited in a saving account at the rate of 6% per year. Find the total amount on deposit at the end of 4 years if the interest is:

P =$5000, r = 6% , t = 4 years

a) simple : A = P(1+rt)

A = 5000(1+(0.06)(4)) = 5000(1.24) = $6200

b) compounded annually, n = 1:

A = 5000(1 + 0.06/1)(1)(4) = 5000(1.06)(4) = $6312.38

c) compounded semiannually, n =2:

A = 5000(1 + 0.06/2)(2)(4) = 5000(1.03)(8) = $6333.85

d) compounded quarterly, n = 4:

A = 5000(1 + 0.06/4)(4)(4) = 5000(1.015)(16) = $6344.93

e) compounded monthly, n =12:

A = 5000(1 + 0.06/12)(12)(4) = 5000(1.005)(48) = $6352.44

f) compounded daily, n =365:

A = 5000(1 + 0.06/365)(365)(4) = 5000(1.00016)(1460) = $6356.12

36 is the final answer! : )

distance covered by pamela in 9 l of fuel = 99km

let us apply unitary method here.

distance covered by pamela in 1 l of fuel =99/9 =11 km

now let us find distance covered by pamela if she has 12 l of fuel.

distance covered in 12 l = distance covered in 1 l of fuel * 12

we know that distance covered by here in 1 l is 11 km.

so distance covered in 12 l of fuel = 11*12 = 132 km.