Find the amount of interest on $1,500 invested for 20 days at 6.75%, compounded daily. $_____
1 answer:
Answer:
The required amount of interest is $5538.
Step-by-step explanation:
Given : $1,500 invested for 20 days at 6.75%, compounded daily.
To find : The amount of interest ?
Solution :
Applying compound interest formula,
Where, A is the amount
P is the principal P=$1500
r is the interest rate r=6.75%=0.0675 compounded daily
t is the time t=20 days
Substitute the value in the formula,
Therefore, The required amount of interest is $5538.
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Expression 20 – 3J represents the change in dollars, which construction worker will receive after buying J bottles of juice.
<u>Solution:</u>
Given that
A construction worker bought several bottles of juice for $3 at the comedian store
She paid for them the $20 bills
Number of bottles of juice is represented by variable J
Need to write an expression for the change she receives.
From given information
Price of 1 juice bottle = $3
<em>Change she receives = Amount she paid - price of J juice bottles </em>
=> Change she receives = 20 – 3J
Hence expression 20 – 3J represents the change in dollars, which construction worker will receive after buying J bottles of juice.