You room going to desire to usage the compound attention formula, which is displayed below.
You are watching: How much would $300 invested at 4
P = early balance
r = attention rate
n = number of times compounded annually
t = time
The an initial step is to readjust 4% into its decimal form:
Now plugin the values:
It would be precious $412.92
We are provided that
1 year=12 month
We have to uncover the amount after 8 years.
Substitute the values in the over formula
Then, we acquire
Hence, amount ~ 8 years would be worth=$412.9
You are offered an initial investment of $300 in ~ 4% attention compounded monthly after 8 years. The systems to this inquiry is shown below.A(t) = P(1+r/n)^ntA(8) = 300(1+0.04/12)^12(8)A(8) = 300(1+0.04/12)^96A(8) = 300(1.033)^96A(8) = $412.91
The american veterinary medical association conducted a survey of veterinary clinics to estimate the relationship that carry out not treat large animals. The survey was mailed to 120 randomly selected veterinary clinics throughout the country, and also 88 responded they execute not treat huge animals. Using the plus four method, find the conventional error of the relationship of clinics that execute not treat big animals is
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