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OpenStudy (anonymous):
no i know the answer, its 3.18 X 10^-3
ganeshie8 (ganeshie8):
nice :) which part is throwing u off ? :)
OpenStudy (anonymous):
nevermind, think i got it now, thanks (:
ganeshie8 (ganeshie8):
remember this :-
when u move the decimal left by 1, add 1 to exponent
ganeshie8 (ganeshie8):
since we moved the decimal to left by 1 unit,
we have added 1 to exponent -4
-4+1 = -3
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OpenStudy (anonymous):
Could you help with one more?
ganeshie8 (ganeshie8):
sure
OpenStudy (anonymous):
Find the balance in the given account after the given period.
$500 principle earning 4% compounded quarterly, after 6 years.
ganeshie8 (ganeshie8):
use compound interest formula :-
\(\large A = P\left(1+\frac{r}{n}\right)^{n\times t}\)
\(P\) = Princial to start wid(500)
\(r\) = rate of interest(4% = 0.04)
\(n\) = compounding interval(quarterly = 4)
\(t\) = time in years (6)
ganeshie8 (ganeshie8):
plug and chug
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OpenStudy (anonymous):
Okay
ganeshie8 (ganeshie8):
wat do you get ? :)
OpenStudy (anonymous):
No lol
ganeshie8 (ganeshie8):
\(\large A = 500\left(1+\frac{0.04}{4}\right)^{4\times 6} \)
ganeshie8 (ganeshie8):
use ur calculator
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OpenStudy (anonymous):
I'm lost
ganeshie8 (ganeshie8):
you need to use ur calculaotor, and find that value