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Harlamova29_29 [7]

3 years ago

11

Your paycheck this week is $138.25. You put the $42.54 in a savings account that pays an interest rate of 6%, compounded yearly.

If you leave your money for 5 years, how much will you have? Please help! Thank you

1 answer:

ASHA 777 [7]3 years ago

3 0

Amount of money you will have = 42.54(1+6/100)^5=56.9

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$\bf \qquad \qquad \textit{inverse proportional variation}\\\\
\textit{\underline{y} varies inversely with \underline{x}}\qquad \qquad y=\cfrac{k}{x}\impliedby 
\begin{array}{llll}
k=constant\ of\\
\qquad variation
\end{array}\\\\
-------------------------------\\\\$

$\bf \textit{\underline{N} is inversely proportional to \underline{A}}\qquad N=\cfrac{k}{A}
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So, we have got the following information
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Filling in the formula gives us:
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