The amount you should deposit is $4709.18
Step-by-step explanation:
The formula for compound interest, including principal sum is
, where:
∵ 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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Solution:
Given equation is .
To solve the equation by step by step.
Step 1: Given
Step 2: Combine like terms together.
Plus symbol changed to minus when the term goes from right to left (or) left to right of the equal sign.
Step 3: Subtract the fractions in the left side.
⇒
Step 4: Divide both side of the equation by 3, we get
Hence, the answer is .
The amount spent on each tube is $18.5
The total amount spent to rent 15 tubes by the group is $277.50.
Since they did not specify in the question the types of tubes they rented, we cannot determine each types of tubes that the group rented but we can determine the amount spent on each tube provided that they are all the same types.
∴
if 15 tubes = $277.50
1 tube = $x
By cross multiplying:
Therefore, we can conclude that the amount spent on each tube is $18.5
Learn more about arithmetic operations here:
Answer:
Jeff mows 9 yards of lawn in 30 minutes
Step-by-step explanation:
The equation that models the amount of time (t) in minutes it takes Jeff to mow an average sized yard is , where n is the number of yards he mows.
To find the number of yards Jeff mows in 30 minutes, we set the equation to 30 and solve for n.
Add -12 to both sides:
Divide both sides by 2
Hence Jeff mows 9 yards of lawn in 30 minutes.