Answer:
The balanced amount is $3130.25.
Step-by-step explanation:
Given : Lily provider a loan of $2500 to David that had an annual interest rate of 4.6%.
To find : The balance after 5 years if it compounded yearly ?
Solution :
Using compound interest formula,

Where, P=$2500 is the principal
r=4.6%=0.046 is the interest rate
t=5 years
Substitute the values,




Therefore, the balanced amount is $3130.25.
5 times 3 is 15 dollars.
40-15= 25-4=21
21/2=$ 10.50 each
Hope this helps!
Answer:
6
Step-by-step explanation:
yOU HAVE TO ADD ALL AND DIVIDE
Lana = x
Pam = 0.5x - 0.05
Cheryl = 0.5x - 0.05 + 3.10
Total 89$ = Lana + Pam + Cheryl
89 = x + 0.5x - 0.05 + 0.5x - 0.05 + 3.10
89 = 2x + 3
89 - 3 = 2x
86 = 2x
86/2 = x
43 = x
then Pam = 0.5(43) - 0.05
= 21.50 - 0.05
= 21.45
Cheryl = 21.45 + 3.10
= 24.55