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3 years ago

Find the missing values assuming continuously compounded interest. (Round your answers to two decimal places.)

Mathematics

1 answer:

alexdok [17]3 years ago

4 0

Answer:

Step-by-step explanation:

Using the compound interest formula to calculate the amount compounded after 10years.

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

P = principal = $2000

r = rate (in %) = 5.6%

t = time (in years) = 10years

n = 1year = time used in compounding

$A = 2000(1+0.056)^{10} \\A = 2000(1.056)^{10}\\A = 2000*1.7244046\\A = 3448.81 (to\ 2dp)$

Amount compounded after 10 years is $3448.81

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Southern bank has 2 types of avcounts both accounts pay compound interest everyday saver account interest 2.4% per annum 1234 ac

castortr0y [4]

Answer:

After 3 years, Sue will get £2471.70 and Bill will get £1993.28.

Step-by-step explanation:

Amount at Compound Interest, $A=P(1+\frac{r}{k} )^{nk}$

Since interest is compounded everyday, period, k=365.

Amount Invested, P=£2300

Interest Rate Per annum (Saver Account) = 2.4%=0.024

Period, k=365 days

Number of Years, n=3 years

$A=2300(1+\frac{0.024}{365} )^{365*3}\\=\£2471.70$

Amount Invested, P=£1800

Interest Rate Per annum (1234 Account ) = 3.4%=0.0034

Period, k=365 days

Number of Years, n=3 years

$A=1800(1+\frac{0.034}{365} )^{365*3}\\=\£1993.28$

<u>After 3 years, Sue will get £2471.70 and Bill will get £1993.28.</u>

7 0

3 years ago

Simplify 4/9 + 1/3<br> A 5/12<br> B 7/9<br> C 1 1/9<br> D 15/9

ELEN [110]

Answer:

B) 7/9

Step-by-step explanation:

<h3>Fraction addition:</h3>

If the denominators are not same, find the LCM of the denominators.

LCM of 3 and 9 is 9.

Now, find equivalent fractions with denominator as 9.

$\sf \dfrac{1}{3}=\dfrac{1*3}{3*3}\\\\$

$\sf =\dfrac{3}{9}$

Now add.

$\sf \dfrac{4}{9}+\dfrac{1}{3}=\dfrac{4}{9}+\dfrac{3}{9}\\\\$

$\sf =\dfrac{7}{9}$

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elena55 [62]

Answer:

<u>The equation would be:</u>

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3x = 6*2

Step 2. <u>Divide both sides by 3:</u>

3x/3 = 6*2/3
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