3 years ago

Lisa spends part of her year as a member of a gym. She then finds a better deal at another gym

Mathematics

1 answer:

Tema [17]3 years ago

5 0

I’m having trouble understanding this question.?

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3 years ago

Hassan invested $900 in an account that pays 4.75% interest compounded annually. Assuming no deposits or withdrawals are made, f

mestny [16]

$~~~~~~ \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+\frac{r}{n}\right)^{nt} \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill &\$900\\ r=rate\to 4.75\%\to \frac{4.75}{100}\dotfill &0.0475\\ n= \begin{array}{llll} \textit{times it compounds per year} \end{array}\dotfill &1\\ t=years\dotfill &9 \end{cases} \\\\\\ A=900\left(1+\frac{0.0475}{1}\right)^{1\cdot 9}\implies A=900(1.0475)^9\implies A\approx 1366.6$