Steven invests $20,000 in an account earning 3% interest, compounded annually for 10 years. Three years after Stevens's initial
2 answers:
The formula to find the amount is
here A is amount
P is the principal
'r' is the rate of interest
n is the number of years.
Case 1.
Stevan invests
P =$ 20,000
r = 3% = 0.03
n = 10 years
Hence the interest earned
= A - P = 26878.33 - 20000 = $6878.33
Case 2.
Evan invests
P = $10,000
r = 7% = 0.07
n = 7 years
Hence the interest earned
= A - P = 16057.81 - 10000 = 6057.81
Difference in the interest = 6878.33 - 6057.81 = $820.52
Rounded to the nearest dollar difference in interest = $821
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Answer:
Approximately 50 pounds less carbon (in CO₂) will be produced by the second auto on this trip.
Step-by-step explanation:
We have been given that the combustion of one gallon of automobile fuel produces about 5 pounds of carbon (in CO₂). Two autos are making a trip of 600 miles.
Let us find amount of fuel used by autos by dividing the total distance by their mileage.
Let us find the difference of fuel used by both autos.
Since one gallon of automobile fuel produces about 5 pounds of carbon, so 10 gallons of fuel will produces pounds of carbon.
Since 2nd auto used 10 gallons less than 1st auto, therefore, 2nd auto will produce 50 pounds less carbon than 1st auto.