2. Mary deposited $8000 in an account that pays 6% annual interest for 5 years. Using A=p(1+r)^t, what is the balance at the end

Question

2 years ago

7

2. Mary deposited $8000 in an account that pays 6% annual interest for 5 years. Using A=p(1+r)^t, what is the balance at the end

of the 5 years?
Question 2 options:

a. 10706
b. 0.006
c. 134456000
d. 83886

3. Mary deposited $8000 in an account that pays 6% annual interest compounded quarterly for 5 years. What is the balance at the end of the 5 years? Use A = p(1 + rn)n*t

a. 10706
b. 10775
c. 12806
d. 8652

4. A $15,000 car depreciates at 20% each year. If you were to write an exponential model in the form , which value represents B in the function? (which is the growth factor)

a. 15,000
b. 0.2
c. 0.8
d. 0.02

Mathematics

2 answers:

kap26 [50] · Answer 1 · 2022-06-19T18:14:34+03:00

kap26 [50]2 years ago

7 0

Hi there

1)
A=8,000×(1+0.06)^(5)
A=10,705.8 round your answer to get
A=10706

2)
A=8,000×(1+0.06÷4)^(4×5)
A=10,774.8 round to get
A=10775

3) with depreciation the formula is
V (t)=Vb^t
Where b=(1-r) (r rate of depreciation)
B=1-0.2=0.8

Good luck!

arlik [135] · Answer 2 · 2022-06-19T19:47:10+03:00

Answer:

2) the correct option is A) 10706

3) the correct option is A) 10775

4) the correct option is C) 0.8

Step-by-step explanation:

2)

Given:- amount is $8000, annual interest is 6% and time for 5 years

Formula used :- $A=p(1+r)^{t}$ Where p is principle amount , r is interest rate (in decimal) and t is the total number of years.

We need to find the balance at the end of the 5 years

Put given data in provided formula

$A=p(1+r)^{t}$

$A=8000\times (1+0.06)^{5}$

$A=10,705.8$

Round answer to get A=10706

Therefore, the correct option is A) 10706

3)

Given:- amount is $8000, annual interest is 6% and time for 5 years

Formula used :- $A=p(1+\frac{r}{n})^{nt}$ Where p is the principal amount , r is the interest rate (in decimal), n is the number of compounding year and t is the total number of years.