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
Zepler [3.9K]
3 years ago
8

Huan deposited $900 into a college savings account earning 4.6% interest compounded annually. He also deposited $900 into a seco

nd account earning 4.6% simple interest. He made no additional deposits. Part 1 out of 3 How much interest does the first account earn in 10 years? If necessary, round to the nearest cent.
Mathematics
1 answer:
weeeeeb [17]3 years ago
6 0

Answer:

The first account earns an interest of $511.11

Step-by-step explanation:

a). Interest in the first account

The total amount of interest earned in 10 years can be expressed as;

Compound interest=(P(1+r/n)^nt)-P

Where;

P=Principal amount

r=Interest rate

n=number of times the interest is compounded annually

t=number of years the account is kept

In our case;

P=$900

r=4.6/100=0.046

n=1

t=10 years

Replacing;

Compound interest=900(1+0.046/1)^(1×10)-(900)

Compound interest=900(1.046)^10-(900)

Compound interest=1,411.105-900

Compound interest=$511.105

Nearest cent=1/100=0.01 two decimal places

511.105=511.11

The first account earns an interest of $511.11

You might be interested in
A ratio can be simplified.
Yuri [45]

Answer:

Yes, a ratio can be simplified.

Step-by-step explanation:

An example of this is 5:10, where it can be simplified down to 1:2.

8 0
3 years ago
The gym has a total of 25 treadmills and stationary bikes. there are seven more stationary bikes than treadmills.
Rudik [331]

The system of equations is t+b=25\\b=t+7

Step-by-step explanation:

We can answer this question as follows.

First of all, we call:

t = number of treadmills

b = number of stationary bikes

The two conditions that we have can be translated into equations as follows:

- The gym has a total of 25 treadmills and stationary bikes:

t+b=25

- There are seven more stationary bikes than treadmills:

b=t+7

So the system of equations to solve is

t+b=25\\b=t+7

We now solve it in the following way: first, we rewrite the second equation by bringing t on the left side,

t+b=25\\b-t=7

Now we add the 1st equation to the 2nd equation:

(t+b)+(b-t)=25+7\\t+b+b-t=32\\2b=32\\b=\frac{32}{2}=16

And therefore,

t+b=25\\t+16=25\\t=25-16=9

So, there are 16 stationary bikes and 9 treadmills.

Learn more about systems of equations:

brainly.com/question/13168205

brainly.com/question/3739260

#LearnwithBrainly

3 0
3 years ago
The interest on a $6,000, 6%, 60-day note receivable is
Musya8 [376]

Answer:

The answer is c or $180

Step-by-step explanation:

4 0
3 years ago
(17-7)•6+2+56-8<br> Pemdas
givi [52]
I don’t even know the answer to be honest
4 0
3 years ago
Read 2 more answers
How can you use division to find the decimal equivalent of a rational number
enot [183]
To use division to find the decimal equivalent of a rational number, divide the top number by the bottom number. You will get a decimal number.
4 0
3 years ago
Other questions:
  • Find the area of the triangle below.
    10·1 answer
  • PLS HELP I NEED TO GET THIS RIGHT WILL MARL BRAINLIEST
    12·1 answer
  • I WILL GIVE 20 POINTS PLEASE HELP
    11·2 answers
  • Does anyone know this
    8·1 answer
  • What's the difference of 9.37 and 0.06?
    14·1 answer
  • The fraction<br> 60/100 <br> can be divided by?
    10·1 answer
  • Use the following net to find the surface area of the solid figure
    11·2 answers
  • Help please
    6·1 answer
  • Which expressions are equivalent to z +(2+6)?
    12·2 answers
  • Which graph shows y=2⌊x⌋+1?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!