All categories

3 years ago

Mr. Sim invest $9000 at 1% per annum compound interest compounded daily. What is his amount at the end of the third day?

Mathematics

1 answer:

Pani-rosa [81]3 years ago

5 0

Answer:

The amount at the end of the third day is $9,000.74

Step-by-step explanation:

To calculate his amount, we shall be using the compound interest formula;

Mathematically;

A = I( 1 + r)^nt

where A is the amount which we want to calculate

I is the initial amount deposited = $9,000

r is the interest rate = 1% = 1/100 = 0.01

the daily interest will be 0.01/365 = 0.00002739726

nt is the number of times we shall be compounding = 3 times

Substituting these values;

A = 9,000(1 + 0.00002739726)^3

A = 9,000(1.00002739726)^3

A = 9,000.73974628665

which is approximately; 9,000.74

You might be interested in

Write a fraction that is less than 5/6 and has a denominator of 8

KatRina [158]

You'll want to make a common denominator with 6 and 8.
That denominator would be 24.
24/6=4 so you would have to multiply 5/6 by 4/4 to get 20/24.
Next, 24/8=3 so 1/8 could be multiplied by 3/3 to get 3/24.
Since 3 is less than 20, 1/8 is smaller than 5/6.

If you want the same numerator, 5/8 = 15/24. This would make 5/8 smaller than 5/6 as well.
The highest eighth you can go is 6/8 which is 18/24.
So you can use any numerator between 1 and 6 with a denominator of 8 to get a fraction smaller than 5/6.

3 0

3 years ago

Determine whether the pair of actions results in independent or dependent events. Serena picks one marble out of a bag. Then, af

harina [27]

Answer:

B) Independent; the 1st marble selection will not affect the 2nd marble selection.

Step-by-step explanation:

When finding the probability of events in mathematics, we have both independent and dependent events.

Independent events are events that occur when the results of selection of the first events does not affect the results or outcomes of the second events.

Dependent events are the opposite of Independent events. They are events that occur when the results or outcomes obtained from the second events is affected by the results or outcomes from the selection of the first events.

From the question, we can see that the first event is she picked one marble from the bag. The second event is she replaced the marble before picking another marble. By doing this, the total number of possible outcomes for the probabilities of both events remains the same and they are unaffected.

Therefore, we can say that the two events are Independent because the 1st marble selection will not affect the 2nd marble selection.

4 0

3 years ago

Read 2 more answers

Kevin is observing the population of the fish he put into a pond. He built a pond and populated it with 500 fish. The population

LuckyWell [14K]

Given that the number of years should be represented with x, the number of fish in the pond after x years should best be represented with f(x). The equation that would best show the given scenario in the problem above is,
f(x) = 500(2^x)
From the given, 500 is used as the initial population of the fish.

4 0

3 years ago

A Salesman worked on a weekly salary of $180.00 . To this was added a commission of 5% on all sales over $500. It his sales for

Anvisha [2.4K]

250x.05 = 12.5 + 180 = 192.50

4 0

3 years ago

I came up with 4 let me know if that's right

Anastasy [175]

Are you doing FLVS? IF so I need hep

7 0

3 years ago