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riadik2000 [5.3K]
2 years ago
10

Sophie has $40 in an account. The interest rate is 5% compounded annually. To the nearest cent, how much interest will she earn

in 3 years? $
Mathematics
2 answers:
Tamiku [17]2 years ago
6 0

Answer:

$ 6.31

Step-by-step explanation:

The TOTAL amount in the account in 3 years will be

40 ( 1+.05)^3 = 46.31

  subtract the orignal 40 deposit to get the interest =6.31

alexdok [17]2 years ago
3 0

~~~~~~ \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+\frac{r}{n}\right)^{nt} \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill &\$40\\ r=rate\to 5\%\to \frac{5}{100}\dotfill &0.05\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{annually, thus once} \end{array}\dotfill &1\\ t=years\dotfill &3 \end{cases}

A=40\left(1+\frac{0.05}{1}\right)^{1\cdot 3}\implies A\approx 46.31~\hfill \underset{earned~interest}{\stackrel{46.31~~ - ~~46}{\approx 6.31}}

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Alex17521 [72]
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3 years ago
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Komok [63]

Answer:

D) q + d = 330

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Step-by-step explanation:

Let q= numbers of quarters

d = number of dimes

q + d = 33 ...........(1)

q = 33 - d

xq + yd = 6 ..........(2)

We will consider the options to know the correct answer

From option A

q +d = 6

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Option B

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This is also wrong

Option C

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Put q = 33 -d in equation 2

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825 - 15d = 6

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-15d = -819

d = -819/-15

d= 54.6

This is also wrong because d exceeds the combination.

Option D

q+d = 33

0.25q + 0.1d = 6

Put q = 33 -d in equation 2

0.25(33 - d) + 0.1d = 6

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8.25 - 0.15d = 6

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3 years ago
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Step-by-step explanation:

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8 0
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