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san4es73 [151]
3 years ago
12

How much would $200 invested at 7% interest compounded annually be worth after 5 years? Round your answer to the nearest cent.

Mathematics
2 answers:
e-lub [12.9K]3 years ago
7 0
A= P(1 + r) n (n to the power of) 

<span>A= final balance </span>
<span>P= initial quantity </span>
<span>n= number of compounding periods </span>
<span>r= percentage interest rate </span>

<span>P= $200 </span>
<span>n= 9 years </span>
<span>r= 5%= 0.05 </span>

<span>=$200 (1 + 0.05)9 (power of) </span>
<span>=$310.26</span>
Zolol [24]3 years ago
4 0
Use the Compound Amount formula:

A = P (1 + r)^t, where P is the principal, r is the interest rate as a decimal fraction, and t is the number of years.

Here, A = $200 (1 + 0.07)^5    =    $500(1.07)^5    =   $280.51.

The interest earned would be $80.51.
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Taylor and Layla go to the movie theater and purchase refreshments for their friends.
zhenek [66]

The system of equations that can be used to find the price of one

drink and the price of one bag of popcorn is

4 x + 9 y = 43

2 x + 8 y = 25

The price of a drink is $8.50

Step-by-step explanation:

Taylor and Layla go to the movie theater and purchase refreshments

for their friends

  • Taylor spends a total of $43.00 on 4 drinks and 9 bags of popcorn
  • Layla spends a total of $25.00 on 2 drinks and 8 bags of popcorn

We need to write  a system of equations that can be used to find the

price of one drink and the price of one bag of popcorn

Assume that the price of each drink is $x and the price of each bag

of popcorn is $y

∵ Taylor spends a total of $43.00 on 4 drinks and 9 bags of popcorn

∴ 4 x + 9 y = 43 ⇒ (1)

∵ Layla spends a total of $25.00 on 2 drinks and 8 bags of popcorn

∴ 2 x + 8 y = 25 ⇒ (2)

The system of equations that can be used to find the price of one

drink and the price of one bag of popcorn is

4 x + 9 y = 43

2 x + 8 y = 25

Multiply equation (2) by -2 to eliminate x

∵ -2(2 x) + -2(8 y) = -2(25)

∴ -4 x - 16 y = -50 ⇒ (3)

- Add equations (1) and (3)

∴ -7 y = -7

- Divide both sides by -7

∴ y = 1

- Substitute y in equation (1) to find x

∵ 4 x + 9(1) = 43

∴ 4 x + 9 = 43

- Subtract 9 from both sides

∴ 4 x = 34

- Divide both sides by 4

∴ x = 8.5

∵ x is the price of each drink

∴ The price of a drink = $8.50

The price of a drink is $8.50

Learn more:

You can learn more about system of equation in brainly.com/question/6075514

#LearnwithBrainly

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