Compound Interest is the interest that is <em>compounded on a particular sum of money or investment over a given period of time.</em>
- The interest for the first year is $1,576.25
- The sum of money after adding the original to the interest is $11,576.25
- The interest on the new total is $13,400.96
- Step 1: Find the interest for the first year.
The formula is given as:
A = P(1 + r/n)^nt
P = Principal = $10,000
R = Rate = 5%
n = 1
t = 1
First, convert R as a percent to r as a decimal
r = R/100
r = 5/100
r = 0.05 rate per year,
Then solve the equation for A
A = P(1 + r/n)^nt
A = 10,000(1 + 0.05/1)^(1)(3)
A = 10,000.00(1 + 0.05)^(3)
A = $11,576.25
I = A - P
Hence:
I = $11,576.25 - $10,000.00
I (interest) = $1,576.25
-
Step 2: Add the interest to the original amount.
$10,000 + $1,576.25
= $11,576.25
-
Step 3: Determine interest in the new total
The formula is given as:
A = P(1 + r/n)^nt
P = Principal = $11,576.25
r = 0.05 rate per year,
Then solve the equation for A
A = P(1 + r/n)^nt
A = 11,576.25(1 + 0.05/1)^(1)(3)
A = 11,576.25(1 + 0.05)^(3)
A = $13,400.96
Therefore,
- The interest for the first year is $1,576.25
- The sum of money after adding the original to the interest is $11,576.25
- The interest on the new total is $13,400.96
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Answer:
a = 15/4
Step-by-step explanation:
tan 60 = y/a
√3 = y/a
y = √3a
tan 30 = y/b
1/√3 = y / b
y = b/√3
√3 a = b/√3
3a = b
a+b = 15
a + 3a = 15
4a = 15
a = 15 / 4
Answer:
x = -1 ± √109
Step-by-step explanation:
2x • 3x + (2 • 3)x + 6x = 648
According to PEMDAS (parentheses/exponents | multiplication/division | addition/subtraction), we should solve the parentheses first.
(2 • 3) = 6
Now we have:
2x • 3x + (6)x + 6x = 648
Now let's multiply.
2x • 3x = 6x²
6 • x = 6x
Now we have.
6x² + 6x + 6x = 648
Combine like terms.
6x² + 12x = 648
Let's factor out a 6.
6(x² + 2x) = 648
Divide both sides by 6.
x² + 2x = 108
Let's use completing the square.
Our equation is in a² + bx = c form.
Divide b by 2.
2/2 = 1
Then square it.
1² = 1
Add 1 to both sides.
x² + 2x + 1 = 108 + 1
Simplify.
x² + 2x + 1 = 109
Now we want to factor the left side. A shortcut is just to use b/2.
(x + 1)² = 109
Take the square root of both sides.
x + 1 = ±√109
The square root is as simplified as possible.
Subtract 1 from both sides.
x = -1 ± √109
Hope this helps!
