13. Find the values of x and y in the diagram below.
1 answer:
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The sum of the balances of these accounts at the end of 5 years is given by: Option B: $53,901.59 (approx)
<h3>How to calculate compound interest's amount?</h3>If the initial amount (also called as principal amount) is P, and the interest rate is R% per unit time, and it is left for T unit of time for that compound interest, then the interest amount earned is given by:
The final amount becomes:
If the initial amount (also called as principal amount) is P, and the interest rate is R% annually, and it is left for T years for that simple interest, then the interest amount earned is given by:
For the considered case, we're given that:
- Initial amount in both accounts deposited = $24,000 = P
- Type of interest: Compound interest in first account and simple interest in second account
- Unit of time: Annually
- Rate of interest = 2.4% annually = R
- Total unit of time for which amount is to be calculated: 5 years = T
In first account, the final amount at the end of 5 years is evaluated as:
In second account, the final amount at the end of 5 years is evaluated as:
Total amount after 5 years in these accounts = (in dollars)
Thus, the sum of the balances of these accounts at the end of 5 years is given by: Option B: $53,901.59 (approx)
Learn more about compound interest here:
Answer:
Step-by-step explanation:
Method #1
We can draw a <em>right triangle</em> on the graph upon where the points are located and use the Pythagorean Theorem:
* Whenever we talk about distance, we ONLY want the NON-NEGATIVE root.
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Method #2
Or, we can use the Distance Formula:
[2, 7] [3, −3]
** You see? It does not matter which method you choose, as long as you are doing the work correctly.
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