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3 years ago

Please help answer ASAP

Mathematics

2 answers:

sweet-ann [11.9K]3 years ago

6 0

0.77875...

which, I'm assuming, they want you to round to the nearest hundredth? So, .78?...

Ksju [112]3 years ago

6 0

First of all, we need to do the expression in parenthesis first.

(4% - 2.25%) = 1.75%

Now, we convert the percent into an integer.

1.75% = 0.0175

Then, we multiply 44.5 by 0.0175

and we get 0.77875.

We have to round the number to the nearest cent.

0.77875 is roughly 0.78

So the answer is $0.78.

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If you deposit $12,500 in an account that pays 4.5% interest quarterly, what is the balance after 8 years? How much did the acco

Masja [62]

In order to determine the balance of the account, use the following formula for the amount of money obtained after t years, basen on a compound interest:

$A=P(1+\frac{r}{n})^{nt}$

where,

P: principal = $12,500

A: amount earnt after t years = ?

r: interest rate in decimal form = 0.045 (4.5%)

n: times at year for the compund interes = 4 (quaterly)

Replace the previous values of the parameters into the formula for A and simplify:

$\begin{gathered} A=12,500(1+\frac{0.045}{4})^{4\cdot8} \\ A=12,500(1+0.01125)^{32} \\ A=12,500(1.01125)^{32} \\ A=12,500(1.430451402) \\ A\approx17,880.64 \end{gathered}$

Hence, the balance after 8 years is approximately $17,880.64 in the account.

The interest earnt by the account is given by the difference between the previous result and the principal invesment:

I = $17,880.64 - $12,500 = $5,380.64

Hence, the interest earnt is $5,380.64

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