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olasank [31]
2 years ago
15

Tom opens a bank account and makes an initial deposit of 500$. Then banker tells Tom that he is going to receive an annual rate

of 6% on his investment. Find the bank balance assuming Tom leaves the account untouched for 15 years. (Will give brainliest to the person who has the answer correct and will shown work.)
Mathematics
1 answer:
Arturiano [62]2 years ago
5 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 &\$500\\ r=rate\to 6\%\to \frac{6}{100}\dotfill &0.06\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{annually, thus once} \end{array}\dotfill &1\\ t=years\dotfill &15 \end{cases} \\\\\\ A=500\left(1+\frac{0.06}{1}\right)^{1\cdot 15}\implies A=500(1.06)^{15}\implies A\approx 1198.28

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Explanation:

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rounded to the nearest thousandth

7 0
3 years ago
Jordan’s baked 4 apple pies.She wants to share them equally among 3 of her neighbors.What fractional part of the pies will each
kodGreya [7K]

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they will each get 1 and 1/3 pie

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5 0
3 years ago
Which equations are equivalent to the given equation?
Strike441 [17]
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6 0
3 years ago
What are the coordinates of the point on the directed line segment from (1,-5) to
Black_prince [1.1K]

Answer:

Q (2.5, -4)

Step-by-step explanation:

Let A (1, -5), C = (10, 1), find Q (x, y), so that AQ:QC = 1:5

AQ = (x - 1, y + 5)

QC = (10 - x, 1 - y)

AQ:QC = 1:5

so 5*AQ = QC

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x = 15/6 = 2.5

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6 0
2 years ago
I need help on finding m
EastWind [94]

Answer:

39°

Step-by-step explanation:

\angle RUS +\angle SUT = \angle RUT\\\\5x-4+3x+6 = 90\\\\8x+2=90\\\\8x=88\\\\x=11

and now for SUT

\angle SUT = 3(11)+6= 33+6 = 39

4 0
2 years ago
Read 2 more answers
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