Thomas invested $1498 at 6% simple interest per annum

Mathematics

1 answer:

Snezhnost [94]2 years ago

8 0

Answer:

$44.94 interest in 6 months
$1767.64 balance in 3 years

Step-by-step explanation:

a) The simple interest is given by the formula ...

I = Prt

where P is the principal invested at rate r for t years. Putting the given values in the formula, we find ...

I = $1498·0.06·(6/12) = $44.94 . . . . interest earned in 6 months

b) The account balance in 3 years will be the initial principal amount plus earned interest.

A = P(1 +rt) = $1498(1 +0.06·3) = $1767.64 . . . . balance after 3 years

You might be interested in

A group of people were asked whether they watch television or read newspaper to get daily news.

kenny6666 [7]

<span>Watching television and reading newspaper are not independent events because P(A|B)=P(A) and P(B|A)=P(B) .
I might be wrong so try to look at it a little closer before you take my word for it.
</span>

7 0

3 years ago

Read 2 more answers

good morning :) The rental car holds 22 gallons of gas and gets 20 miles per gallon. The trip to Ellis City is 1760 miles. How m

Effectus [21]

1760/ 20 = 88
88/22 = 4
answer = 4

6 0

3 years ago

PLEASE HELP ASAP!!!! IT WILL BE DEEPLY APRECIATED AND NO LINKS PLEASE

mart [117]

Answer: Parallel lines are lines in a plane which do not meet; that is, two straight lines in a plane that do not intersect at any point are said to be parallel. Colloquially, curves that do not touch each other or intersect and keep a fixed minimum distance are said to be parallel.

6 0

3 years ago

What is 2 times 2? to the nerist nuber off the reel steel anser.

Llana [10]

Answer:

day also you have the same knowledg

6 0

2 years ago

NEED HELP ASAP!!!!!!!

bija089 [108]

The answer would be C

4 0

2 years ago