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I NEED HELP FAST ON #6 PLEASE HELP!

Thanks!

I NEED HELP FAST ON #6 PLEASE HELP! Thanks!-example-1
User Jacknad
by
5.6k points

1 Answer

7 votes

Answer:

money owed (in order): $850, $870.40, $891.29, $912.68

Explanation:

The formula is

money owed = amount owed the previous week + amount owed previous week × interest rate (in decimal form)

so thats:

money owed = amount owed the previous week + amount owed previous week × 0.024

we can simplify that to:

money owed = amount owed the previous week x (1.024)

after 0 weeks:

$850 (just started, no interest added)

after 1 week:

$870.40

after 2 weeks:

$891.29

after 3 weeks:

$912.68

User Inducesmile
by
5.1k points
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