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nexus9112 [7]
3 years ago
12

A bank account balance, b, for an account starting with s dollars, earning an annual interest rate, r, and left untouched for n

years can be calculated as Find a bank account balance to the nearest dollar, if the account starts with $200, has an annual rate of 4%, and the money left in the account for 10 years.
Mathematics
2 answers:
Karolina [17]3 years ago
6 0

Answer:

Part A:

As any particular interest is not mentioned, we will calculate the simple interest formula.

SI=p\times r\times t

Now as per given scenario, here p is s.

t is n

So, we can calculate interest as:

I=s\times r\times n

And b=s+I

Part B:

Here p = 200

r = 4% or 0.04

t = 10 years

So, interest is 200\times0.04\times10=80 dollars

And amount after 10 years is = 200+80=280 dollars

Oduvanchick [21]3 years ago
3 0
Well, assuming is "simple interest" rate

\bf \qquad \textit{Simple Interest Earned Amount}\\\\
A=P(1+rt)\qquad 
\begin{cases}
A=\textit{accumulated amount}\\
P=\textit{original amount deposited}\to& \$200\\
r=rate\to 4\%\to \frac{4}{100}\to &0.04\\
t=years\to &10
\end{cases}
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Effectus [21]

answer

240 standard versions

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h = number of high quality versions

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drek231 [11]
Your answer to the first one is incorrect.

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