Ronnie invested $1500 in an account that earns 3.5% interest, compounded annually. The formula for compound interest is A(t) = P{(1 + i)^t}A(t)=P(1+i) t . How much did Ronnie have in the account after 4 years?

Step-by-step explanation:

A= New amount

P= Principal or Original amount which is £1500

I= Interest

t= time period

3.5% as a decimal is 3.5÷100=0.035

time period= 4 years

so 1500(1+0.035)^4 = B

according to this law, when unemployment goes up by 1%, gdp drops by 2%. in the question, unemployment rate goes from 2% to 5%, meaning unemployment goes up by 3%, so the gdp drops by 6%. thus the effect is a drop in gdp by 6%.

step-by-step explanation: