Write the recursive formula for 6, 17, 28, 39, 50

In year, 2004, I put $20.00 into an account to save. This account annual interest fee is 0.002%. However, every 10th year the in

olchik [2.2K]

9514 1404 393

Answer:

$20.01

Step-by-step explanation:

In 2004–2012, the interest rate is 0.002%. In 2013, it is 0.004%. In 2014–2021, the interest rate is 0.002%. That is, in the 18 years between 2004 and 2021 (inclusive), the interest rate is 0.002% for 17 of them. The effective account multiplier is ...

(1.00002^17)(1.00004^1) = 1.00038006801

Then the account balance is ...

$20 × 1.00038006801 ≈ $20.01

_____

<em>Additional comment</em>

The annual interest earned on $20.00 is $0.0004. If the account balance is rounded to the nearest cent annually, at the end of the 18 years, the balance will still be $20.00. Not enough interest is earned in one year to increase the balance above $20. At the end of the 18 years, the amount of interest earned is 0.76¢ (a fraction of a penny) <em>only if there is no rounding in intervening years</em>.

7 0

2 years ago

Please help me with this

Furkat [3]

Answer:

$1224

Step-by-step explanation:

72 adults in the theater, and 17$ per adult ticket.

72 x 17 is 1224.

6 0

3 years ago

Jacinta borrowed sh. 100,000 from her cooperative society. She pays 1% interest of the outstanding balance every month. If she p

vredina [299]

The amount of money that Jacinta pays to service the whole loan as interest is <u>sh. 5,899</u>.

<h3>What is interest?</h3>

Interest is the finance charge that a borrowers incurs to service a loan.

Interest is based on the outstanding balance at the end of the payment period.

<h3>Data and Calculations:</h3>

Principal loan = sh. 100,000

Interest on outstanding balance = 1%

Monthly payment of principal and interest = sh. 10,000

Period of repayment = Monthly

<h3>Amortization Schedule:</h3>

Beginning Interest Payment Ending Balance

1st month sh. 100,000 sh. 1,000 sh. 10,000 sh. 91,000

2nd month sh. 91,000 sh. 910 sh. 10,000 sh. 81,910

3rd month sh. 81,910 sh.819 sh. 10,000 sh. 72,729

4th month sh. 72,729 sh. 727 sh. 10,000 sh. 63,456

5th month sh. 63,456 sh. 636 sh. 10,000 sh. 54,092

6th month sh. 54,092 sh. 541 sh. 10,000 sh. 44,633

7th month sh. 44,633 sh. 446 sh. 10,000 sh. 35,079

8th month sh. 35,079 sh. 351 sh. 10,000 sh. 25,430

9th month sh. 25,430 sh. 254 sh. 10,000 sh. 15,684

10th month sh. 15,684 sh. 157 sh. 10,000 sh. 5,841

11th month sh. 5,841 sh. 58 sh. 5,899 sh. 0

Total interest paid = sh. 5,899

Thus, based on the payment schedule above, the amount of money that Jacinta pays to service the whole loan as interest is <u>sh. 5,899</u>.

Learn more about loan interests at brainly.com/question/24576997

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8 0

2 years ago

Which of the following is the equation of the line that is parallel to y=35x+8 y = 3 5 x + 8 and goes through point (-10,4)?

xeze [42]

Slope-intercept form of a line is y=mx+b.

Where m= slope and b= y-intercept.

First step is to compare the given equation y=35x+8 with the above equation to get the value of m.

After comparing the two equations we will get m=35.

Slope of paralle lines always equal which means slope of a line which is parallel to the above line will also be 35.

Now the line is passing through (-10,4).

Point slope form of a line is :

$y-y_{1} =m(x-x_{1} )$

Next step is to plug in m=35, x1=-10 and y1=4 in the above equation. So,

y-4=35(x-(-10)

y-4=35(x+10)

y-4=35x+350

y=35x+350+4

y=35x+354.

So, the equation of the line is y=35x+354.

4 0

3 years ago

Solve 5·23 using the distributive property.

svetlana [45]

5*23

Note 23 = 20 + 3

5*23 = 5*(20 + 3) and by distributive property

5*23 = 5*20 + 5*3 = 100 + 15 = 115

= 115

3 0

3 years ago

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