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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<span>2x+3y=3
</span><span>-3x-2y=8
3y=3-2x
-2y = 8+3x
y = 1 - 2x/3
y = -4 - 3x/2
</span>1 - 2x/3 = -4 - 3x/2
5 = - 3x/2 + 2x/3
5 = -9x/6 + 4x/6
5 = -5x/6
x = 5 * 6/-5
x = -6
No plug it in.
<span>2x+3y=3 ; x = -6
-12 + 3y = 3
3y=3+12
3y=15
y = 5
So </span>x = -6 and y = 5
Let us make a list of all the details we have
We are given
The cost of each solid chocolate truffle = s
The cost of each cream centre chocolate truffle = c
The cos to each chocolate truffle with nuts = n
The first type of sweet box that contains 5 each of the three types of chocolate truffle costs $41.25
That is 5s+5c+5n = 41.25 (cost of each type of truffle multiplied by their respective costs and all added together)
The second type of sweet box that contains 10 solid chocolate trufles, 5 cream centre truffles and 10 chocolate truffles with nuts cost $68.75
That is 10s+5c+10n = $68.75
The third type of sweet box that contains 24 truffles evenly divided that is 12 each of solid chocolate truffle and chocolate truffle with nuts cost $66.00
That is 12s+12n=$66.00
Hence option C is the right set of equations that will help us solve the values of each chocolate truffle.
The answer is 2/3 (i think ✨)
