2 years ago

Aaron deposits $8,000 into an account that earns 3% interest, compounded Annually. How much money will he have after 4 years

1 answer:

4 0

The equation used for this problem is

F = P(1+i)ⁿ
where
F is the future worth
P is the present worth
i is the effective interest rate
n is the number of years

Substituting the values,

F = <span>$8,000(1 + 0.03)</span>⁴
F = $9,004.07

Thus, after 4 years, Aaron will have $9,004.07.

You might be interested in

A pet survey found that the ratio of dogs to cats is 2/5. Write and solve a proportion that shows the number of dogs

Irina18 [472]

So,

The ratio of dogs to cats:
$\frac{2}{5}$

The other proportion:
$\frac{x}{140}$

$\frac{2}{5} = \frac{x}{140}$

5 times 28 is 140.

Multiply the fraction by the appropriate form of 1
$\frac{2}{5} * \frac{28}{28} = \frac{56}{140}$

There are 56 dogs when the number of cats is 140.

7 0

2 years ago

In what form is the following linear equation written?

krek1111 [17]

Answer is B standard

3 0

2 years ago

What is the value of h(−2) when h(x)=3x+1?

natali 33 [55]

Answer:

-5

Step-by-step explanation:

The answer is -5 because we have -2 as x. The function is h(x)=3x+1. 3 times -2=-6. When we add 1 to the result, we have -5 as the answer. Hope it helps!

4 0

3 years ago

Read 2 more answers

A system of two equations is shown.

Delvig [45]

Answer:

x=-2;y=-7

Step-by-step explanation:

y=5x+3

y=3x-1

3x-1=5x+3

-2x=4