If $8,000 is invested at an annual interest rate of 1.83%, compounded daily, what will the investment be worth after 10 years?

$9606.41

Step-by-step explanation:

We would apply the formula for determining compound interest which is expressed as

A = P(1 + r/n)^nt

Where

A = total amount in the account at the end of t years

r represents the interest rate.

n represents the periodic interval at which it was compounded.

P represents the principal or initial amount deposited

From the information given,

P = $8000

r = 1.83% = 1.83/100 = 0.0183

Assuming there are 365 days in a year, then

n = 365 because it was compounded 365 times in a year.

t = 10 years

Therefore,

A = 8000(1 + 0.0183/365)^365 × 10

A = 8000(1 + 0.000050137)^3650

A = 8000(1.000050137)^3650

A = $9606.41

fabric (square meters)                   cloaks

7                                                           21

4/3                                                         4

step-by-step explanation:

we are told that harry needs 2 square meters of fabric for every 6 wizard cloaks he makes.

1. first of all we will find how many cloaks can be made from 1 square meter of fabric by dividing 6 by 2.

we can see that 3 cloaks can be made from 1 square meter of fabric. now we will multiply 3 by 7 to find number of cloaks made from 7 square meters of fabric.

therefore, harry will make 21 cloaks from 7 square meters of fabric.

2. let us find how many square meters of fabric will be needed to make 4 cloaks.

first of all we will find fabric needed for 1 cloak by dividing 2 by 6.

we can see that fabric needed for 1 cloak is   square meter. now we will multiply   by 4 to find fabric needed for 4 cloaks.