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ValentinkaMS [17]
3 years ago
11

Pine Bluff Middle School is having its annual Spring Fling dance, which will cost \$400$400. The student treasurer reported that

the dance fund has \$75$75 left over from last year. Each ticket to the dance costs \$4$4.
Mathematics
1 answer:
alex41 [277]3 years ago
6 0
Im just doing this for points btw
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Suppose your grandparents put $500 into an investment that earns 12% interest each year. How much, to the nearest cent, will be
SashulF [63]

Answer

After the 10 years with accrued interest, there will be roughly $1,552.92 in the account.

Explanation

Using the given equation A = P(1 +r)^t

We are given that our initial start is $500.

P = 500

We are further told that the percentage interest gained is 12%, so we need to convert this into a decimal to be able to work with it.

12% / 100% = 0.12

r = 0.12

t is then our time in years

t = 10

A = 500(1 + 0.12)^10

A = 500(1.12)^10

A = 500(3.1058)

A = 1,552.92

After the 10 years with accrued interest, there will be roughly $1,552.92 in the account.


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