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scZoUnD [109]
3 years ago
9

Financial Algebra 1. Unit 1: Simple and Compound Interest Quiz A..

Mathematics
1 answer:
Nikolay [14]3 years ago
8 0

Answer:

$56,558.1

Step-by-step explanation:

This is a question on compound interest.

The formula to calculate the Total Amount based on compound interest is given as:

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

A = Total or Final amount in the account after t years

P = Principal/ Initial amount invested=$35,000

r = Interest rate = 12%

n = compounding Frequency = daily = using 30 days in a month = 30 × 12 = 360 days

t = time in years = 4

A = $35,000( 1 + 0.12/360)^360 × 4

A = $56558.08

Approximately to the nearest cent ≈ A = $56,558.1

Therefore, Priscilla should be expecting $56,558.1 in the account after 4 years.

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a

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3 years ago
You are a contractor and charge $45 for a site visit plus an additional $24 per hour for each hour you spend working at the site
tino4ka555 [31]

Answer:

Equation: 810= (90 + 24y)

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Step-by-step explanation:

Given:

Site visit = $45 per site

cost per hour worked = $24

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Therefore for TWO sites, the total amount of money earned

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We are further given that we worked y hours at the hourly work rate of $24 per hour.

Hence the cost for working

= y hours x hourly rate

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= $24y   (substituting this into equation 1 above)

for TWO sites, the total amount of money earned

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3 years ago
(−9+6.8−1.2)·(−0.49−0.51)
zmey [24]

Answer:

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(−9 + 6.8 − 1.2) · (−0.49 − 0.51)

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3.4

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3 years ago
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