Answers:
- interest = $75
- balance at maturity = $3075
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Explanation:
The simple interest formula is
i = p*r*t
where in this case,
- p = 3000 = principal (amount deposited)
- r = 0.10 = annual interest rate in decimal form
- t = 3/12 = 0.25 = number of years
So,
i = p*r*t
i = 3000*0.10*0.25
i = 75 is the amount of interest earned
This adds onto the initial deposit to get the final balance when the CD matures (ie when you're able to withdraw the money without penalties)
The balance at maturity is p+i = 3000+75 = 3075 dollars
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In short, you deposit $3000 into the CD and have to wait 3 months for the amount to update to $3075.
Mentally
As they are numbers which you can do mental math with since they are whole numbers.
Answer:
93 adult tickets
Step-by-step explanation:
Let 'a' represent the number of adult tickets sold. Then total revenue was ...
9.60a +5.80(167 -a) = 1322
3.80a = 353.40 . . . . . . . . . . subtract 968.60, collect terms
a = 93 . . . . . . . . . . divide by 3.8
93 adult tickets were sold that day.
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74 child tickets were sold
