6) If the perimeter of the equilateral triangle ABC is x inches. The mid points of the sides are joined to form the smaller tria
ngle and
the process goes on as in the diagram. If the perimeter of the 6th triangle is 3 inches, find the value of x.
the process goes on as in the diagram. If the perimeter of the 6th triangle is 3 inches, find the value of x.
1 answer:
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The total interest accrued is $2,407.41 if you invested $7,000 into a money market account for 10 years at an annual interest rate of 3%.
<h3>What is invested amount?</h3>An investment is a payment made to acquire the securities of other firms with the intention of making a profit.
We are assuming the interest will be compounded annually
Where A = Final amount
P = Principal amount
r = annual rate of interest
n = how many times interest is compounded per year
t = How long the money is deposited or borrowed (in years)
We have:
P = $7000
r = 3% = 0.03
t = 10 years
n = 1
After calculating:
A = $9407.41
I = A - P = 9407.41 - 7000 = $2,407.41
Thus, the total interest accrued is $2,407.41 if you invested $7,000 into a money market account for 10 years at an annual interest rate of 3%.
Learn more about the invested amount here:
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