Suppose that $6500 is placed in an account that pays 12% interest compounded each year.
1 answer:
The amount after 1 year is $7280 and the amount after two year is $8153.
Given that $6500 is placed in an account that pays 12% interest compounded each year.
Compounding is the addition of interest to the principal of a loan or deposit, or in other words, interest on principal plus interest.
Compounded interest=12%
Principal amount=$6500
Time period = 1 year
where P is Principle amount, r is annual interest, n is number of times the interest compounded monthly, t is number of years
Here P=6500, r=12%, n=1, t=1
Substitute these values in the formula, we get
A=6500(1+(0.12/1))¹⁽¹⁾
A=6500(1+0.12)¹
A=6500×1.12
A=7280
Now we have to calculate for two years.
That is if n=2 , then
A=6500(1+(0.12/1))¹⁽²⁾
A=6500(1+0.12)
A=6500×1.2544
A=8153.6
Hence, the amount for one year and two year when $6500 is placed in an account that pays 12% interest compounded is $7280 and $8153.60.
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Answer:
The rectangles that have exactly 100 squares are 1 by 100 4 by 11 and 5 by 8
Step-by-step explanation:
The given parameters are;
A 2 by 3 rectangle contains 8 squares
A 3 by 4 rectangle contains 20 squares
A 4 by 6 rectangle contains 50 squares
We note that the number of squares varies proportionately to the increase in the dimension of the rectangle, that is we have;
2 by 3 rectangle contains 8 squares
3 by 4 rectangle contains 20 squares increase by 12 = 3 × 4
4 by 5 rectangle contains 40 squares increase by 20 = 4 × 5
The number of squares formed can therefore be arranged in a matrix as follows(please see attached matrix);
Column, 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11
Row
1
2
3
4
5
6
7
8
9
10
11
It will be observed that after reaching a point where the row and column are equal, (x, x) the rate of increase in the number of squares become constant and equal to x × ((x - 1) × 0.5) + 1) = x × (x + 1)/2
From the matrix, the rectangles that have exactly 100 squares are 1 by 100 4 by 11 and 5 by 8 and there are no more as presented in the attached matrix, the number of squares formed keeps increasing for each column and row added.
