If $P is invested for n years at a rate i (as a decimal), compounded annually, the future value that accrues is given by S = P(1 + i)", and the interest earned is I = S- P. Find S and I for the given P, n and (Round your answers to the nearest cent.) $1500 for 5 years at 15% S = $ I = $

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter1: Fundamental Concepts Of Algebra
Section1.2: Exponents And Radicals
Problem 48E
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If $P is invested for n years at a rate i (as a decimal), compounded annually, the future value that accrues is given by S = P(1 + i)", and the interest earned is I = S - P. Find S and I for the given P, n and i.
(Round your answers to the nearest cent.)
$1500 for 5 years at 15%
S = $
I = $
Transcribed Image Text:If $P is invested for n years at a rate i (as a decimal), compounded annually, the future value that accrues is given by S = P(1 + i)", and the interest earned is I = S - P. Find S and I for the given P, n and i. (Round your answers to the nearest cent.) $1500 for 5 years at 15% S = $ I = $
Compute and simplify so that only positive exponents remain.
(-7mºy-1)(7m-7y1)
Transcribed Image Text:Compute and simplify so that only positive exponents remain. (-7mºy-1)(7m-7y1)
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