1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
algol13
1 year ago
7

Determine the amount of interest the principal in each account had earned. (From Example 2)

Mathematics
1 answer:
Ilia_Sergeevich [38]1 year ago
4 0

The amount of interest that the principal in each account had earned is as follows:

Raul Avila = $167.12

Samuel Griffin = $364.91

<h3>How is compound interest computed?</h3>

The compound interest can be calculated using the compound interest formula:

A = P(1 + \frac{r}{n})^{nt}

A = final amount

P = initial principal balance

r = interest rate

n = number of times interest applied per time period

t = number of time periods elapsed

It can also be computed using an online finance calculator as follows:

<h3>Data and Calculations:</h3><h3>Raul Avila:</h3>

N (# of periods) = 110 days

I/Y (Interest per year) = 5.5%

PV (Present Value) = $10,000

PMT (Periodic Payment) = $0

<u>Results:</u>

FV = $10,167.12

Total Interest = $167.12

<h3>Samuel Griffin:</h3>

N (# of periods) = 120 days

I/Y (Interest per year) = 5.5%

PV (Present Value) = $20,000

PMT (Periodic Payment) = $0

<u>Results:</u>

FV = $20,364.91

Total Interest = $364.91

Thus, using the online finance calculator, the compound interests for each principal have been computed as $167.12 and $364.91, respectively.

Learn more about compound interests at brainly.com/question/19950566

#SPJ1

You might be interested in
A patio of a house is 16 feet by 12 feet. The area of the patio is square feet.
Vera_Pavlovna [14]

Answer:

192

Step-by-step explanation:

16 * 12 = 192 square feet

brainliest please??

3 0
2 years ago
Read 2 more answers
I said no it's not a function but why isn't it a function?
VMariaS [17]
It's not a function because the x value repeated but wasn't accompanied by the same y value . there is (-2,2) and (-2,14) but if they had the same y value like (-2,2) and (-2,2) or (-2,14) and (-2,14) the table would represent a function. If you still dont understand I'll be more than happy to elaborate :)
8 0
3 years ago
Classify the real number ? Help
Law Incorporation [45]

Answer:

It is an irrational number because \piis irrational

8 0
3 years ago
if you have a box of candy that is 8 inches long 5 inches wide and 2 inches tall how much space do you have for candy
stiv31 [10]

8 x 5 x 2 = 80 square cubits

4 0
2 years ago
Read 2 more answers
Patient A receives 3 times the amount of certain medicine as Patient B. The two doses add to 200 milligrams. What amount of the
4vir4ik [10]
Patient A - 150 mg
Patient B - 50 mg
I hope this helps :)
7 0
3 years ago
Other questions:
  • Which number is less -49 or -41??
    5·1 answer
  • A sweater originally priced at $65 is on sale for 15% off. You also have a coupon that takes another $10 off. What percent of th
    8·2 answers
  • “Determine if Parallel, Perpendicular, or neither , idk if I’m right but I do need help here
    11·1 answer
  • Y varies inversely with x, and k (the constant of variation) = 1.24. What is the value of y when x = 4.96?
    12·1 answer
  • I Have A Comic Book That Has An Advertisement About Advanced Dungeons and Dragons, And I'm Considering Getting The Board Game An
    12·2 answers
  • Lin rode her bike 2 miles in 8 minutes. She rode at a constant speed. How
    6·1 answer
  • Suppose you have 3 bags. Two of them contain a single $10 bill, and the third contains a single $5 bill. Suppose you pick one of
    14·1 answer
  • Can we say ((-16)÷4) ÷ (-2) is the same as (-16)÷ (4÷(-2)?<br><br>​
    11·2 answers
  • In a few sentences, describe what this weather map tells you about the weather.
    15·1 answer
  • 4 - 2(x-4)/ 3= 3(2x+5)/2<br>linear equation in one variable<br>no spamms❌❌❌❌​
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!