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Luden [163]
3 years ago
12

Nina opened a savings account and deposited $300.00. The account earns 4% interest, compounded monthly. If she wants to use the

money to buy a new bicycle in 3 years, how much will she be able to spend on the bike?
Mathematics
2 answers:
Alexeev081 [22]3 years ago
6 0
Turn 4% into a decimal by dividing it by 100
4/100=0.04
0.04times300=$12 in interest
12months times 3yrs=36 months
36times$12=$432

nina will be able to spend $432 on the bike
mylen [45]3 years ago
5 0

Answer:

up to $338.18

Step-by-step explanation:

Use the compound amount formula:

A = P(1 + r/n)^(n*t), where r is the interest rate as a decimal fraction and n is the number of compounding periods per year.

Here, A = $300(1 + 0.04/12)^(12*3), or

          A = $300(1.0033333)^*36, or

          A = $300(1.127) = $338.18

Nina will be able to spend up to $338.18 on a new bike.

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<h3>Answer:</h3>
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  2. B. 480
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Step-by-step explanation:

1. See the attachment for the filled-in diagram. Adding the contents of the figure gives the sum at the bottom, matching selection C.

2. If we let "d" represent the length of the second volyage, then the total length of the two voyages is ...

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Since the starting value (in 1975) is 4 (billion), the population t years after that is ...

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