Question

I thought I understood how to get the answer, but I got the second question wrong so I don't know what to do. Can anyone explain to me how to do it? I also am dyslexic and have a hard time rounding numbers. So, I dont think I understood how to round to the nearest dollar.

Answer 1

$223,787

Explanation:

r = 0.02

C = 191,000

t = 8

S = 191,000 (1 + 0.02)⁸

Follow order of operations (PEMDAS).

S = 191,000 (1.02)⁸

S = 191,000 (1.171659381)

S = 223,786.9

(We want to round to the nearest dollar, which is the ones place, so ignore all digits after the tenths place.)

Rounding, S = 223,787