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mrs_skeptik [129]
3 years ago
12

What is the total interest earned in two years on an account containing $500 at 3.5% interest, compounded annually?

Mathematics
2 answers:
Oxana [17]3 years ago
7 0

Answer: Compound interest is $36.61

Step-by-step explanation:

Initial amount deposited into the account is $500 This means that the principal,

P = 500

It was compounded annually. This means that it was compounded once in a year. So

n = 1

The rate at which the principal was compounded is 3.5%. So

r = 3.5/100 = 0.035

It was compounded for 2 years. So

t = 2

The formula for compound interest is

A = P(1+r/n)^nt

A = total amount in the account at the end of t years. Therefore

A = 500 (1+0.035/1)^1×2

A = 500(1.035)^2 = $535.61

Compound interest = 535.6 - 500 = $35.61

kiruha [24]3 years ago
3 0
$35.
500 x .035 = 17.5 < - 1 year interest
17.5x2 = 35 <- 2 years
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Serhud [2]

Answer:

X=(-1.5, 7.5)

Step-by-step explanation:

Simplifying

4x2 + -24x + -45 = 0

Reorder the terms:

-45 + -24x + 4x2 = 0

Solving

-45 + -24x + 4x2 = 0

Solving for variable 'x'.

Factor a trinomial.

(-3 + -2x)(15 + -2x) = 0

 

Set the factor '(-3 + -2x)' equal to zero and attempt to solve:

Simplifying

-3 + -2x = 0

Solving

-3 + -2x = 0

Move all terms containing x to the left, all other terms to the right.

Add '3' to each side of the equation.

-3 + 3 + -2x = 0 + 3

Combine like terms: -3 + 3 = 0

0 + -2x = 0 + 3

-2x = 0 + 3

Combine like terms: 0 + 3 = 3

-2x = 3

Divide each side by '-2'.

x = -1.5

Simplifying

x = -1.5  

Set the factor '(15 + -2x)' equal to zero and attempt to solve:

Simplifying

15 + -2x = 0

Solving

15 + -2x = 0

Move all terms containing x to the left, all other terms to the right.

Add '-15' to each side of the equation.

15 + -15 + -2x = 0 + -15

Combine like terms: 15 + -15 = 0

0 + -2x = 0 + -15

-2x = 0 + -15

Combine like terms: 0 + -15 = -15

-2x = -15

Divide each side by '-2'.

x = 7.5

Simplifying

x = 7.5

Solution

x = {-1.5, 7.5}

7 0
2 years ago
you run a business making birdhouses. you spend $600 to start your business, and it costs you $5.00 to make each birdhouse.
Alex787 [66]

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Step-by-step explanation:

What is the question?

4 0
3 years ago
a corn vendor at a farmers market was selling a bag of 8 ears of corn for $2.56 anithert vendor was selling a bad of 12 for 4.32
maria [59]

Answer:

8 for 2.56

Step-by-step explanation:

THE ANSWER IS IN CENTS.

2.56 ÷ 8 = 0.32 per ear

4.23 ÷ 12 = 0.36 per ear

3 0
2 years ago
A quadratic rule for a particular parabola is of the form y = ax^2 + bx. The parabola passes through with the coordinates (-1, 4
Scilla [17]

Answer:

y = (4/7)x² - (24/7)(x)

Step-by-step explanation:

4 = a(-1)² + b(-1)

4 = a - b

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4 = a - (-6a)

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6 0
3 years ago
How Do I solve this I am quite confused
Kazeer [188]

Answer:

$11,714

Step-by-step explanation:

C(x) = 0.7x² - 462x + 87,944

this is a quadratic equation that opens up

the vertex will be the minimum

From the quadratic formula the x coordinate of the vertex is

x = -b/2a

x = 462/(2 * 0.7)

x = 330

Plug in

c(330) = 0.7(330²) - 462(330) + 87,944

c(330) = 11,714

$11,714

5 0
3 years ago
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