Answer:
100.7%
Step-by-step explanation:
Since the interest is compounded quarterly, and there are 4 quarters per year, that would leave us with 32 quarters total where interest is acquired. Now, we need to find the interest rate, that would be required in order to end up with 420 dollars after 32 quarters.
We can setup a formula using our period of time and the money he invested into the bank:
We can divide 340 from both sides, and simplify the right side to 21 divided by 17:
Taking the 32th root of 21/17 is equal to 1.00662, which is equal to 100.0662%. To the nearest tenth of a percent, this is equal to 100.7%.
Answer:
price = x * 0.2
or
price = x * 0.454 * 0.2
Step-by-step explanation:
In this case we must know either the mass of the cake or its volume.
Given the case that we know the mass of the cake, it would be:
price = x * 0.2
where x is the mass of the cake in ounces, that is to say if for example a cake has a mass of 10 ounces, it would be:
price = 10 * 0.2 = 2
which means that each cake costs $ 2
Given the case of the volume, we must first multiply the density by this volume in order to calculate the mass and finally the price.
price = x * 0.454 * 0.2
where x is the volume of the cake in cubic inches, if for example the volume is 10 cubic inches it would be:
price = 10 * 0.454 * 0.2 = 0.908
which means that each cake costs $ 0.9
Answer: $2294 should be invested in the simple interest account while $4588 should be invested in the certificate of deposit.
Step-by-step explanation:
Let x represent the amount that he would deposit in the simple interest account.
Let y represent the amount that he would deposit in the certificate of deposit.
she will deposit twice as much in the certificate of deposit. It means that
y = 2x
Interest from the simple interest account would be 7%. This mean that the interest would be 7/100 × x = $0.07x
Interest from the certificate of deposit account would be 5%. This mean that the interest would be 5/100 × y = $0.05y.
The total interest from both accounts would be $390. It means that
0.07x + 0.05y = 390- - - - - - - - - - 1
Substituting y = 2x into equation 1, it becomes
0.07x + 0.05 × 2x = 390
0.07x + 0.1x = 390
0.17x = 390
x = 390/0.17 = $2294
y = 2x = 2 × 2294
y = 4588
9,862,000 in scientific notation is 9.862 × 10^6
