Answers:
- interest = $75
- balance at maturity = $3075
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Explanation:
The simple interest formula is
i = p*r*t
where in this case,
- p = 3000 = principal (amount deposited)
- r = 0.10 = annual interest rate in decimal form
- t = 3/12 = 0.25 = number of years
So,
i = p*r*t
i = 3000*0.10*0.25
i = 75 is the amount of interest earned
This adds onto the initial deposit to get the final balance when the CD matures (ie when you're able to withdraw the money without penalties)
The balance at maturity is p+i = 3000+75 = 3075 dollars
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In short, you deposit $3000 into the CD and have to wait 3 months for the amount to update to $3075.
The easiest way to do this is to plot the points. I used the pythagorean theorem for this one, too. Add the side lengths to get the perimeter: 5 + 5 + 5 + 3 + √40 = 24.32455532 units or just 24 units.
Answer:
584
Step-by-step explanation:
17510 divided by 30 is 583.66 but you can have part of a person so you round up.
Answer:
17580
Step-by-step explanation:
29300*0.10*6=I
29300*0.6=I
17580=Interest