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Marina CMI [18]
3 years ago
11

A high-interest savings account pays 5.5% interest compounded annually. If $300 is deposited initially and again at the first of

Mathematics
2 answers:
Juli2301 [7.4K]3 years ago
7 0
The owner's account would have a balance of $4075.05 in 10 years.
Xelga [282]3 years ago
4 0

Answer:

\sum_{n=1}^{10} 316.5 (1.055)^{n-1}

Step-by-step explanation:

The amount (A) in a deposit after 1 year is calculated as follows:

A = P*(1 + r)

where:

P is the present value

r is the annual rate (decimal)

After the first year:

A = 300*(1 + 0.055) = $316.5

After the second year, the account will have a new amount of $316.5 due to the new $300 and the interest gained with the previous $316.5:

A = 316.5 + 316.5*(1 + 0.055)

After the third year:

A = 316.5 + [316.5 + 316.5*(1 + 0.055)]*(1 + 0.55)

A = 316.5 + 316.5*(1 + 0.055) + 316.5*(1 + 0.055)^2

After 10 years:

\sum_{n=1}^{10} 316.5 (1.055)^{n-1}

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Answer:  " 15 % " .

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     →   " 12 is <u>  15% </u> of 80 " .

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Step-by-step explanation:

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12 = (n/100) * 80 ;

12 = (80n) /100 ;  Solve for "n:

Note:  80/100 = (80/10) / (100/10) = (8/10) = 0.8  ;

12 = (0.8)n  ;

↔ (0.8n) = 12

Multiply each side of the equation by "10" ; to get rid of the "decimal" ;

 10 * (0.8n) = 10 * 12 ;

to get:

_______________________________

8n = 120 ;

Divide each side of the equation by "8" ;

to isolate "n" on ONE SIDE of the equation; & to solve for "n" ;

8n/8 = 120/ 8 ;

_______________________________

to get:

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n = 15 .

_______________________________

Answer:  " 15 % " .

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     →   " 12 is <u>  15% </u> of 80 " .

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Hope this helps!

Best wishes!

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4 0
3 years ago
Two trains leave stations 338 miles apart at the same and travel toward each other. One train travels at 75 miles per hour while
AleksandrR [38]

If they're travelling towards each other;
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5 0
3 years ago
A -------- of a number is that number times any whole number
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Answer:

quotient

Step-by-step explanation:

5 0
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HELPP ASAP<br><br> 2w - 30 = -26
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Add 30 to both sides.

2w - 30 + 30 = -26 + 30

2w = 4

Divide by 2.

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3 years ago
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