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crimeas [40]
3 years ago
11

Luanne wants to have $3275 in her bank account in 10 years. How much money should she deposit if her account earns 7.5% interest

which is compounded every month?
A. $1589.01
B. $2159.45
C. $1921.53
D. $1550.62
Mathematics
2 answers:
Mekhanik [1.2K]3 years ago
8 0
A. $1589.01

I solved this by a simple trial and error by inputing each answer into the equation.
Ray Of Light [21]3 years ago
3 0
Total = Principal * (1 + rate/12)^years*12
Solving for Principal
Principal = Total / (1 + rate/12)^years*12
Principal = $3,275 / (1<span>.00625)^120
</span>Principal = $3,275 / <span> <span> <span> 2.1120646371 </span>
</span></span>Principal = <span> <span> <span> 1,550.6</span></span></span>2
And here's a calculator to check that answer:
http://www.1728.org/compint.htm


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What percent of 950 is 2​
Dima020 [189]

Answer: 0.21%

Step-by-step explanation: Please mark me brainlist

Step 1: We make the assumption that 950 is 100% since it is our output value.

Step 2: We next represent the value we seek with x

Step 3: From step 1, it follows that 100% = 950

Step 4: In the same vein x% = 2

Step 5: This gives us a pair of simple equations: 100% = 950(1)

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Step 6: By simply dividing equation 1 by equation 2 and taking note of the fact that both the LHS

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Step 7: Taking the inverse (or reciprocal) of both sides yields
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Step-by-step explanation:

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