The amount you should deposit is $4709.18
Step-by-step explanation:
The formula for compound interest, including principal sum is
, where:
- A is the future value of the investment/loan, including interest
- P is the principal investment amount
- r is the annual interest rate in decimal
- n is the number of times that interest is compounded per unit t
- t is the time the money is invested or borrowed for
∵ You want to have $5000 in your savings account in 2 years
∴ A = 5000
∴ t = 2
∵ The account pays 3% annual interest, compounded monthly
∴ r = 3% = 3 ÷ 100 = 0.03
∴ n = 12 ⇒ compounded monthly
- Substitute these values in the formula above
∴ 
∴ 
∴ 
- Divide both sides by 
∴ P = 4709.18
The amount you should deposit is $4709.18
Learn more:
You can learn more about the compounded interest in brainly.com/question/2514241
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Answer:
There are 77 members in the group.
Step-by-step explanation:
1Rs = 100 paise ( Indian Currency Conversion )
Given,
Total amount collected is = Rs 59.29
Now convert Rs 59.29 to paise that is 59.29 × 100 = 5929 paise
Condition :- Paise collection = Total number of members
Consider any of the above condition as X
So, X² = 5929
X = √5929 = 77
Thus, Total number of members in the group is 77 [ Option C ]
Hope this helps you.
For example, exc. 15.
x + y = 10 and 6/x = 9/y; You need y!
=> x = 10 -y and 9x = 6y => 9(10-y) = 6y => 90 - 9y = 6y => 15y = 90 => y = 6.
A. When you solve for y, you will come out with x=0.1039, and x=-1.6039.
Answer:
I have no idea what this means