Answer:
Interest earned: $150.85
Total amount: $850.86
Step-by-step explanation:
Y=700(1.05)^4
Put the right side of the equation into a calculator and get
850.85 that's your total, so to get the amount earned subtract the original 700 from it and get 150.85
Step-by-step explanation:
In×5z+In×7
=1.67z +1.95-8
=1.67z-6.05
13. 9x^2-36x+36
14. 4x^2+14x+20
Remember area formula for a square is Length times Width.
The area formula for a triangle is 1/2base times height.
The account will be worth $2368.20 in 7 years.
The compound interest formula is
where p is the principal invested, r is the interest rate as a decimal number, n is the number of times the interest is compounded yearly, and t is the amount of time.
3.35% = 3.35/100 = 0.0335.
Using our information, we have:
which comes out to $2368.20.
There are three unknowns in this problem. First, let's assign variables for these unknowns.
Let
x be the amount received by the first friend
y be the amount received by the second friend
z be the amount received by the third friend
Next, we formulate equations for the relationships
x = 4z
z = 4y
x + y + z = <span>$231,000
Solving simultaneously,
4(4y) + y + 4y = </span><span>$231,000
21y = </span><span>$231,000
y = $11,000
z = 4($11,000) = $44,000
x = 4($44,000) = $176,000</span>