Who killed the colonel? And why?
Answer (2)
Answer:Here's how to calculate the principal amount needed to earn 8,500 pesos in interest over 4 years at an 8.4% annual interest rate compounded monthly: Understanding Compound Interest Compound interest means that you earn interest not only on the principal amount but also on the accumulated interest. This leads to faster growth over time. Formula The formula for compound interest is: plaintext
A = P(1 + r/n)^(nt) Where: - A is the final amount (principal + interest)- P is the principal amount (what you initially invest)- r is the annual interest rate (as a decimal)- n is the number of times interest is compounded per year- t is the time in years Solving for the Principal (P) 1. Calculate the final amount (A): Since you want to earn 8,500 pesos in interest, and the principal amount is what you're looking for, the final amount (A) will be the principal (P) plus the interest: - A = P + 8,5002. Convert the interest rate to a decimal: - r = 8.4% = 0.0843. Set up the equation: - A = P(1 + r/n)^(nt)- P + 8,500 = P(1 + 0.084/12)^(12*4)4. Solve for P: - P + 8,500 = P(1.007)^48- 8,500 = P(1.007)^48 - P- 8,500 = P[(1.007)^48 - 1]- P = 8,500 / [(1.007)^48 - 1]- P ≈ 194,571.63 pesos Therefore, you would need to invest approximately 194,571.63 pesos to earn 8,500 pesos in interest over 4 years at an 8.4% annual interest rate compounded monthly.
The phrase "Who killed the colonel?" often refers to a famous line from the board game "Clue" (or "Cluedo"), where players deduce who committed a murder, where it took place, and with what weapon.
