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sergij07 [2.7K]
3 years ago
13

Shota invests $2000 in a certificate of deposit that earns 2% in interest each year.Write a function that gives the total v(t) i

n dollars of the investment t years from now
Mathematics
1 answer:
brilliants [131]3 years ago
7 0

Answer:

The correct answer is v(t) = (principal × time × 0.02) if calculated simply and v(t) = Principal × ( 1.02) ^ {time} where v(t) is the interest after t years .

Step-by-step explanation:

Principal amount invested by Shota is $2000.

Interest is earned at 2% per year.

Time for which the principal is invested is t years.

Therefore let the total interest be v(t) dollars in t years.

Case 1: Simple Interest.

v(t) = (principal × time × \frac{r}{100} ) = (2000 × t × 0.02) = 40t

Case 2: Compound Interest.

v(t) = Principal × ( 1+ \frac{r}{100}) ^ {t} - Principal =  2000 × ( 1.02) ^ {t} - 2000.

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Step-by-step explanation:      

<u>Step 1: Add the numbers: 9.5 +6.2 = 15.7</u>

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<u />=29.67<u />

<u />

- To solve this equation, the first step is to add the numbers 9.5 + 6.2 into the equation and it will lead to 15.7 as the number for step one.

- To solve this equation, the second step is to subtract the numbers 15.7 - 12.25 into the equation and it will lead to 3.45 as the answer.

- To solve this equation, the third step is to multiply the numbers 8.6 x 3.45 into the equation and it will lead 29.67 as the final answer for the whole equation.

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=29.67

 

Hope this helps.

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2 years ago
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riadik2000 [5.3K]
I got a different answer..
and i don't see it as one of your choices, also your question is confusing since you're repeating it .-.
But anyways i got \frac{6}{11} ~or~ \frac{36}{66}
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