All categories

2 years ago

Tim Invested $5,000 in a savings account for 6 years.He earned $550 over that fine period.What is the interest rate?

Mathematics

1 answer:

Klio2033 [76]2 years ago

5 0

Answer:

1.75 %

Step-by-step explanation:

The formula for the future value (FV) of an investment is

FV =PV(1 + r/n)^nt

If the interest is calculated once a year, n = 1, and the formula reduces to

FV = PV(1 +r)^t

5550 = 5000(1 + r)⁶ Divide both sides by 5000

1.110 = (1+r)^6 Take the sixth root of each side

1 + r = 1.0175 Subtract 1 from each side

r = 0.0175 Convert to percent

r = 1.75 %

The interest rate is 1.75 %.

You might be interested in

Rename 4/5 and 5/7 using the least common denominator

svlad2 [7]

Answer:

Step-by-step explanation:

7 0

2 years ago

Read 2 more answers

Unit4: Congruent Triangles Hw 1: Classifying Triangles Gina Wilson (All things algebra) 2014

anastassius [24]

Answer:

12. x = 6, side = 83
13. x = 18, side = 29
14. x = 11, sides = 74, 74 and 37
15. x = 23, sides = 95, 95 and 108

Step-by-step explanation:

11 is incomplete, can't solve

The triangle is equilateral, so all sides are equal, using one pair to find x:

13x + 5 = 17x - 19
17x - 13x = 5 + 19
4x = 24
x = 6

Each side is:

13*6 + 5 = 78 + 5 = 83

13.

Sides are equal as triangle is equilateral

QR = 2x - 7
RS = 5x - 61
QS = x + 11

Finding x by comparing two sides

2x - 7 = 5x - 61
5x - 2x = 61 - 7
3x = 54
x = 18

Sides are equal

18 + 11 = 29

14.

Equal sides of isosceles triangle:

CD = DE
9x - 25 = 6x + 8
9x - 6x = 8 + 25
3x = 33
x = 11

Sides are

CD = DE = 9*11 - 25 = 99 - 25 = 74
CE = 10*11 - 73 = 110 - 73 = 37

15.

Equal sides of isosceles triangle WXY, WX = WY

WX = 4x + 3
WY = 7x - 66
XY = 5x - 7
4x + 3 = 7x - 66
7x - 4x = 3 + 66
3x = 69
x = 23

Sides are:

WX=WY = 4*23 + 3 = 95
XY = 5*23 - 7 = 108

6 0

2 years ago

Read 2 more answers

Arnold skydives out of an airplane with a parachute. After he opened his parachute Arnold descended at 70feet per second. An obs

vivado [14]

Answer:

Arnold descended a distance of 5,250 ft after his parachute opened

Step-by-step explanation:

Here in this question, we want to know the distance Arnold descended after his parachute opened.

Mathematically, we know that distance = speed * time

In this case;

The speed is the rate at which he descended = 70 ft per second

Now the time is 1 minute and 15 seconds; since 1 minute is 60 seconds, then 1 minute and 15 seconds is 60 + 15 = 75 seconds

So what we are saying is he descended at a rate of 70 ft per second for 75 seconds

Thus, his distance of descent will be 70 ft per second * 75 seconds = 5,250 ft

4 0

2 years ago

Read 2 more answers

How do i write 3x-3y=18 in function notation

Elina [12.6K]

First you would have to isolate y.
3x - 3y = 18 -----> Subtract 3x from both sides
-3y = -3x + 18 --------> Now divide both sides by -3
y= x - 6

Now you replace the y with an f(x)
f(x) = x - 6

3 0

3 years ago

Read 2 more answers

A recipe calls for 3/4 cup of butter. Angie wants to triple the recipe, but she has only 1 5/8.

Lyrx [107]

Let's start out by tripling the original recipe to see how much butter Angie needs.

$\frac{3}{4} * 3 = total$
$\frac{3* 3}{4} = total$
$\frac{9}{4} = total$
$2 \frac{1}{4} = total$

So we need $2 \frac{1}{4}$ cups of butter, but Angie only has $1 \frac{5}{8}$ . Let's subtract what Angie has from the total to see how much more she needs.

$2 \frac{1}{4} - 1\frac{5}{8} = n$
$\frac{9}{4} - \frac{13}{8} = n$
we will need the least common denominator for both fractions
$\frac{2}{2} *(\frac{9}{4}) - \frac{13}{8} = n$
$\frac{18}{8} - \frac{13}{8} = n$
$\frac{5}{8} = n$

So Angie need $\frac{5}{8}$ cups more of butter for the recipe.

7 0

2 years ago