Add. Simplify your answer, 3/10 + 5/10

Mathematics

2 answers:

Oksanka [162]4 years ago

8 0

So it would equal to 8/10 and divide by 2 which you would get 4/5

Lady_Fox [76]4 years ago

5 0

3+5= 8
10+10= 20
8/20 simplifies to 4/5

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Vanessa deposits $24,000 into each of two savings accounts. Account I earns 2. 4% interest compounded annually. Account II earns

ikadub [295]

The sum of the balances of these accounts at the end of 5 years is given by: Option B: $53,901.59 (approx)

<h3>How to calculate compound interest's amount?</h3>

If the initial amount (also called as principal amount) is P, and the interest rate is R% per unit time, and it is left for T unit of time for that compound interest, then the interest amount earned is given by:

$CI = P(1 +\dfrac{R}{100})^T - P$

The final amount becomes:

$A = CI + P\\A = P(1 +\dfrac{R}{100})^T$

<h3>How to calculate simple interest amount?</h3>

If the initial amount (also called as principal amount) is P, and the interest rate is R% annually, and it is left for T years for that simple interest, then the interest amount earned is given by:

$I = \dfrac{P \times R \times T}{100}$

For the considered case, we're given that:

Initial amount in both accounts deposited = $24,000 = P
Type of interest: Compound interest in first account and simple interest in second account
Unit of time: Annually
Rate of interest = 2.4% annually = R
Total unit of time for which amount is to be calculated: 5 years = T

In first account, the final amount at the end of 5 years is evaluated as:

$A = 24000(1 + \dfrac{2.4}{100})^4 = 24000(1.024)^4 \approx 27021.59\: \rm (in \: dollars)$