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lora16 [44]
3 years ago
6

Dan invests £11000 into a savings account. The bank gives 3.9% compound interest for the first 3 years and 4.5% thereafter. How

much will Dan have after 7 years to the nearest pound?
Mathematics
1 answer:
jekas [21]3 years ago
4 0

Answer: £14378

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 = £11000

n = 1 because it was compounded once in a year.

For the first 3 years,

r = 3.9% = 3.9/100 = 0.039

Therefore,

A = 11000(1+0.039/1)^1 × 3

A = 11000(1.039)^3

A = $12338

The new principal is 12338

For the next 4 years,

A = 12338(1.039)^4

A = 14378

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The statement that best interprets the quotient is "there are 6( 1/4 ) two  - third in 4( 1/6 )".

In mathematics, the sum obtained by diluting two numbers is known as a quotient. The term "quotient" is used frequently in mathematics and is sometimes known as the integer portion of a division, a fraction, or a ratio.

Any integer may be used as the larger number in a fraction, which is a number that represents a percentage of the larger number. It is shaped like a denominator and a numerator.

For step 1:

The shaded part is:

4 + 1/6 = 4(1/6) = 25/6

Now, dividing the shaded part by the unshaded part,

( 25/6 ) / ( 2/3 ) = ( 25/6 ) × ( 3/2 )

( 25/6 ) / ( 2/3 ) = 25/4

( 25/6 ) / ( 2/3 ) = 6( 1/4 )

Hence, there are 6( 1/4 ) two  - third in 4( 1/6 ).

Learn more about fraction here:

brainly.com/question/17220365

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7 0
2 years ago
The first side of a triangle is twice the length of the second side; the third side is 20 feet less than three times the second
dsp73

x=2nd side

2x=1st side

3x-20=3rd side

x+(2x)+(3x-20)=106

6x-20=106

6x-20+20=106+20

6x=126

6x/6=126/6

x=21

1st side=42 ft

2nd side-21 ft

3rd side=43 ft

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The table below shows the percentage of households that own a microwave in different countries. Construct a stem-and-leaf plot o
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Ya then 8 |8 8
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How many times do 80 go into 200
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36 out of 100 randomly selected taxpayers knew about tax incentives for installing energy-saving furnaces. Find a 90% confidence
tresset_1 [31]

Answer:

The 90% confidence interval for the population proportion who knew about the incentives is (0.28, 0.44).

Step-by-step explanation:

In a sample with a number n of people surveyed with a probability of a success of \pi, and a confidence level of 1-\alpha, we have the following confidence interval of proportions.

\pi \pm z\sqrt{\frac{\pi(1-\pi)}{n}}

In which

z is the zscore that has a pvalue of 1 - \frac{\alpha}{2}.

For this problem, we have that:

n = 100, \pi = \frac{36}{60} = 0.6

90% confidence level

So \alpha = 0.1, z is the value of Z that has a pvalue of 1 - \frac{0.1}{2} = 0.95, so Z = 1.645.

The lower limit of this interval is:

\pi - z\sqrt{\frac{\pi(1-\pi)}{n}} = 0.36 - 1.645\sqrt{\frac{0.36*0.64}{100}} = 0.28

The upper limit of this interval is:

\pi + z\sqrt{\frac{\pi(1-\pi)}{n}} = 0.36 + 1.645\sqrt{\frac{0.36*0.64}{100}} = 0.44

The 90% confidence interval for the population proportion who knew about the incentives is (0.28, 0.44).

7 0
4 years ago
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