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sweet-ann [11.9K]
3 years ago
12

J is 25 more than 3 help

Mathematics
2 answers:
solong [7]3 years ago
8 0
J= 28 I believe... I do not fully understand what you are asking here?
vampirchik [111]3 years ago
7 0
Ummmmm..........J is 25+3 so J=28
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Colin invests £2350 into a savings account. The bank gives 4.2% compound interest for the first 4 years and 4.9% thereafter. How
mixer [17]
To solve this, we are going to use the compound interest formula: A=P(1+ \frac{r}{n} )^{nt}
where
A is the final amount after t years 
P is the initial investment 
r is the interest rate in decimal form 
n is the number of times the interest is compounded per year

For the first 4 years we know that: P=2350, r= \frac{4.2}{100} =0.042, t=4, and since the problem is not specifying how often the interest is communed, we are going to assume it is compounded annually; therefore, n=1. Lest replace those values in our formula:
A=P(1+ \frac{r}{n} )^{nt}
A=2350(1+ \frac{0.042}{1} )^{(1)(4)}
A=2350(1+0.042)^{4}
A=2770.38

Now, for the next 6 years the intial investment will be the final amount from our previous step, so P=2770.38. We also know that: r= \frac{4.9}{100} =0.049, t=6, and n=1. Lets replace those values in our formula one more time:
A=P(1+ \frac{r}{n} )^{nt}
A=2770.38(1+ \frac{0.049}{1})^{(1)(6)
A=2770.38(1+0.049)^6
A=3691.41

We can conclude that Collin will have <span>£3691.41 in his account after 10 years.</span>
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