Asked by yasmine harper on May 10, 2024
Verified
Calculate the final value of the following equation 8,600(1+0.092×155365) 1+0.154×81365\frac{8,600\left(1+0.092 \times \frac{155}{365}\right) }{1+0.154 \times \frac{81}{365}}1+0.154×365818,600(1+0.092×365155)
A) 8,640.69
B) 8,122.68
C) 5,867.98
D) 1,882.57
E) 5,345.43
Exponentiation
A mathematical operation involving the raising of one number to the power of another, symbolized as \(a^b\).
Division
A unit or section of a larger organization, often specializing in a particular function or product.
- Gain proficiency in and employ compound interest computations to estimate the future value of an investment.
Verified Answer
JB
Jolonnie BirdenMay 10, 2024
Final Answer :
A
Explanation :
The calculation involves first finding the interest for the numerator and denominator separately and then dividing them. For the numerator, 8,600(1+0.092×155365)8,600(1+0.092 \times \frac{155}{365})8,600(1+0.092×365155) calculates the interest for 155 days at a 9.2% annual rate. For the denominator, 1+0.154×813651+0.154 \times \frac{81}{365}1+0.154×36581 calculates the interest for 81 days at a 15.4% annual rate. After performing the calculations, the result is approximately 8,640.69.
Learning Objectives
- Gain proficiency in and employ compound interest computations to estimate the future value of an investment.
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