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2 years ago

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

Mathematics

1 answer:

Nikolay [14]2 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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Read 2 more answers

Match each question to the correct problem.

Maslowich

<h2>Answer:</h2>

<em>(Check attached images).</em>

<h2>Step-by-step explanation:</h2>

<h3>Exercise 1.</h3>

a. Convert to decimals.

To order the numbers from least to greaters, convert them to decimals and compare.

$5.2(percent)=0.052\\ \\\frac{1}{7} =0.1429\\\\ -0.8=-0.8000\\ \\\frac{-11}{5} =-2.2$

b. Select the second least number.

-0.8.

<h3>Exercise 2.</h3>

a. Convert to decimals.

$-3.4(percent)=-0.034\\ \\-0.031\\\\ -0.2\\ \\-\sqrt{0.8}= -0.8944$

b. Select the correct number.

$-\frac{1}{5}$ .

<h3>Exercise 3.</h3>

a. Convert to decimals.

<em>After seeing that there are negative and positive numbers, and with the premise that negative numbers are </em><u><em>always</em></u><em> lesser than positive numbers, we'll only compare the positive numbers.</em>

<em />

b. Select the correct number.

3/5.

<h3>Exercise 4.</h3>

a. Convert to decimals.

-0.35

-3.5%= -0.035

b. Conclude.

Seeing that -3.5% is less than -0.35, the symbol that makes the statement true is ">".

<h3>Exercise 5.</h3>

a. Try to visually estimate b.

B appears to have a value of -0.9.

b. Convert the numbers to decimals.

-3.4%= -0.034

-0.031

-1/5= -0.2

$-\sqrt{0.8}= -0.8944$

c. Select the correct answer.

<em>Since we estimated the value of b as -0.9, the number that best adequates to its value is </em> $-\sqrt{0.8}$ .

<h3>Exercise 6.</h3>

a. Convert to decimals.

5.2%= 0.052

1/7= 0.1429

b. Select the correct number.

5.2% is the second largest.

<h3>Exercise 7.</h3>

a. Convert to decimals.

6/7= 0.857143

0.857

b. Select the correct answer.

Seeing that 0.857 is marked as an approximate by the

ellipsis, and considering that 6/7 is an irrational numbers, we can conclude that the number that better fits the situation and makes the statement true is "=".

<h3>Exercise 8.</h3>

a. Convert to decimals.

<em /> $-\sqrt{21} =-4.5826$

b. Select the correct answer.

The smallest number is -4.6.

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1 year ago