Compounded interest follows a relatively straightforward formula: P(1+r)^t Where: P = Principal amount r = rate of return t = time elapsed In this case, we know all of this information: P = $100 r = 4% = 0.04 t = 1993 - 1880 = 113 years So we can calculate using the formula above: P(1+r)^t 100(1 + 0.04)^113 = 100(1.04)^113 = 100(84.0945) = 8409.45 Therefore, at a rate of 4%, the granddaughters claim they are owed $8409.45. If the rate is 8%, we repeat the same steps as follows: P(1+r)^t 100(1 + 0.08)^113 = 100(1.08)^113 = 100(5982.52) = 598252.29 Therefore, at a rate of 8%, the granddaughters claim they are owed $598,252.29 This difference in rates is actually meant to show how when interest is compounded, it's rate of growth is exponential. In this example, you can see that the growth rate at 8% is far more than double the growth rate at 4%. I hope this helps you understand the concept of compounded interest :)
The person who sung Notorious Thug was Notorious B.I.G.
The person who sung Notorious Thug was Notorious B.I.G.
The word "notorious" is an adjective.
"He was the winning quarterback but prior to this year, he was notorious for throwing interceptions" "This city is notorious for gang violence" "The school is notorious for good grades"
a being who is notorious for complaining.
it's called Notorious B.I.G. and it's by Notorious B.I.G. featuring Lil' Kim and Puff Daddy
Notorious Oxide is laughing gas
Notorious (2009) is rated R.
So NoTORIous was created in 2006.
The Notorious Cleopatra was created in 1970.
Notorious - novel - was created in 2006.
Notorious was released on 01/16/2009.