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
Alchen [17]
3 years ago
14

If 10,500 is decomposed in a compound interest account paying 2.99% interest annually, how much will be in the account after 5 y

ears? Round to the nearest cent.
Mathematics
1 answer:
Irina-Kira [14]3 years ago
8 0
1) To work out the result after a percentage is applied to a number, you work out 'the percentage number/100' and write the answer of this calculation down.                         2) You THEN multiply this calculated number (called the 'percentage multiplier') by your orginal number (called the 'principal').                                                                  3) The result of this calculation gives you the answer of what happens when your orginal number is multiplied by a certain percentage.                                                    4) Thus, for a 2.99% increase work out: " (100+2.99)/100 "
    The answer is 1.029 - SO THIS is your percentage multiplier.                                   5) Your earn 2.99% interest each year for 5 years. Thus you multiply your principal (10,500) by the calculated percentage multiplier (1.029), BUT you you multiply the principal by this multiplier 5 TIMES!                                                                              6) So, the calulation is:10,500 × (1.029^5).                                                                  7) This EQUALS $12,113.403198) Rounded to the nearest cent, the final amount in the account AFTER 5  YEARS = $12,113.40                                                                  8) THE ANSWER IS THUS: $12,113.40
You might be interested in
the functions f and g are defined as follows f(x)=-5x+2 g(x)=3x^2-3x find f(g) and g(-2) simplify your answer as much as possibl
daser333 [38]

Answer:

f(g) = -15x^2 + 15x + 2.

g(-2) = 18.

Step-by-step explanation:

f(g) = -5(3x^2 - 3x) + 2

= -15x^2 + 15x + 2.

g(-2) = 3(-2)^2 - 3(-2)

= 12 + 6

= 18.

8 0
2 years ago
What is 43.09 to the nearest whole number​
Svetach [21]

Answer:

43

Step-by-step explanation:

  • 43.09 has 2 parts the integer part which is basically to the left and the decimal point which is to the right. to get this to the nearest integer or whole number you would have to round it off so you only have the integer part to do so the first digit in the fractional part is less than 5 then simply remove the fractional part to get the answer but in this case the de
6 0
2 years ago
It takes Mara 15 minutes to walk to her friends house 1 2/3 miles away. What is her walking pace in miles per hour?
algol13
The answer is 6 2/3 per hour
6 0
3 years ago
Someone please help me with #2
mario62 [17]

<em>Good luck, you'll need it :)</em>

6 0
3 years ago
Solve 3m+7/2=−2m+5/2 what is m
GenaCL600 [577]
Solve for m:3 m + 7/2 = 5/2 - 2 m
Put each term in 3 m + 7/2 over the common denominator 2: 3 m + 7/2 = (6 m)/2 + 7/2:(6 m)/2 + 7/2 = 5/2 - 2 m
(6 m)/2 + 7/2 = (6 m + 7)/2:(6 m + 7)/2 = 5/2 - 2 m
Put each term in 5/2 - 2 m over the common denominator 2: 5/2 - 2 m = 5/2 - (4 m)/2:(6 m + 7)/2 = 5/2 - (4 m)/2
5/2 - (4 m)/2 = (5 - 4 m)/2:(6 m + 7)/2 = (5 - 4 m)/2
Multiply both sides by 2:6 m + 7 = 5 - 4 m
Add 4 m to both sides:6 m + 4 m + 7 = (4 m - 4 m) + 5
4 m - 4 m = 0:6 m + 4 m + 7 = 5
6 m + 4 m = 10 m:10 m + 7 = 5
Subtract 7 from both sides:10 m + (7 - 7) = 5 - 7
7 - 7 = 0:10 m = 5 - 7
5 - 7 = -2:10 m = -2
Divide both sides of 10 m = -2 by 10:(10 m)/10 = (-2)/10
10/10 = 1:m = (-2)/10
The gcd of -2 and 10 is 2, so (-2)/10 = (2 (-1))/(2×5) = 2/2×(-1)/5 = (-1)/5:Answer: m = (-1)/5
5 0
3 years ago
Read 2 more answers
Other questions:
  • Solve 9x = 27 1/3 2/3 3/2
    8·1 answer
  • What is the MAD of the data set (10,9,16,5,10
    6·1 answer
  • How many square feet of outdoor carpet will we need for this hole? Iready quiz pic
    8·2 answers
  • Please help!! I don't get how to answer this at all
    8·1 answer
  • Find the slope of any line perpendicular to the line through (5,3) and (2,5)
    5·1 answer
  • Use method of completing the square to transform quadratic equation into form (x+p)^2=q.
    12·1 answer
  • Evaluate the expression for x = 4: 6+ (10 - x)2 - 20​
    13·1 answer
  • Fill in the table using this function rule.<br> y=30-4x<br> X<br> y<br> 1<br> 3<br> 5<br> 6<br> a
    15·1 answer
  • A tree grows at the rate of 1½ inches every week. At this rate, how many weeks will it take the tree to grow 20.25 inches?
    5·1 answer
  • Ashley is going to build some large wooden storage boxes. The boxes are shaped like rectangular prisms, as shown below. She want
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!