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2 years ago

PLS HELP ME

1 answer:

3 0

Interest on interest, or compound interest, is the adding of interest to the principal sum of a loan or deposit. Mike's account balance after 21 years is $69,131.44.

<h3>What is compound interest?</h3>

Interest on interest, or compound interest, is the adding of interest to the principal sum of a loan or deposit. It's the outcome of reinvesting interest rather than paying it out so that interest is received on the principal plus previously collected interest in the next quarter.,

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

where A is the final amount

P is the principal amount

r is the rate of interest

n is the number of times interest is charged in a year

t is the number of years

The principal amount that Mike invested is $29,000. The rate of interest is 7.24% compounded daily, for 21 years. Therefore, the account balance after 21 years is

$\text{Account Balance after 21 years} = 29,000(1+\dfrac{0.0724}{365})^{(365 \times 21)}$

= $69,131.44

Hence, Mike's account balance after 21 years is $69,131.44.

Learn more about Compound Interest:

brainly.com/question/25857212

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The number 2017 can be expressed as the difference of the squares of two consecutive whole numbers. What is the sum of these two

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Let x be the first number

X + 1 be the second number

(x+1)^2 – x^2 = 2017

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2x + 1 = 2017

2x = 2017 – 1

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3 years ago

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Answer:

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3 years ago

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3 years ago

Two factors of -48 have a difference of 19. The factor with a

sdas [7]

Answer:

Step-by-step explanation:

Given number = -48

Listing out the possible factors of -48 in pairs along with their difference:

Factors ( $F_1\times F_2$ ) Difference ( $F1-F2$ ) Difference ( $F_2-F_1$ )

$-2\times 24$ -26 26

$2\times -24$ 26 -26

$-3\times 16$ -19 19

$3\times -16$ 19 -19

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$4\times -12$ 16 -16

$6\times -8$ -14 14

$12\times -4$ 14 -14

On listing out the factors we find out that two of the pairs have difference = 19

The pairs are $-3, 16$ and $3,-16$

It is given that the factor with greater absolute value is positive. This means 16 would be positive while 3 would be negative.

So, our factors are $-3, 16$

The sum of the factors is = $-3+16=13$ (Answer)

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3 years ago

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3 years ago