Answer: $4,365.10
Step-by-step explanation:
Ok, we know that:
The account starts with $2350
There is a simple interest of 3.75% (or 0.035).
Then after one year, the amount in the account will increase by 3.75%, this means that the amount will be:
$2350 + 0.035*$2350 = (1.035)*$2350.
After another year, we have the same increase (but applied to the new amount in the account):
(1.035)*$2350 + 0.035*(1.035)*$2350. = (1.035)^2*$2350
And so on.
You already can see the pattern here, the amount of money in the saving account after N years will be:
M(N) = $2350*(1.035)^N.
Now we can answer:
what is the balance of the account if it earns a simple interest of 3.75% for 18 years?
Just replace N by 18 in that equation:
M(18) = $2350*(1.035)^18 = $4,365.10
Ohh wow nice, do your own work lazy person
To find the average: the sum of the values/number of values
=250+310+275+195/4
=257.5
Answer:
what i did was multiply 33*6 and got 198 and then 228-198 to find out that the initial fee was 30 dollars. then multiply 33*9+30 to get a 9-month total cost of $327
Step-by-step explanation:
cost = $33 per month + fee
1. c(m) = 33m + f
33(6) + f = 228
198 + f = 228
f = $30 membership fee
c(m) = 33m + 30
2. at 9 months: 33(9) + 30 = $327
hopefully this helps :)
have a nice day !!
