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Evgesh-ka [11]
3 years ago
14

Mr. Wilkins deposited $2500 in a new account at his bank. The bank pays 6.5% interest compounded annually . Which amount is clos

est to the balance of the account at the end of 2 years?
A $2,835.56
B $2,825.00
C $2,662.50
D $2,513.00
Mathematics
1 answer:
mr_godi [17]3 years ago
3 0
<h3>Answer: $2,835.56 (Choice A)</h3>

===========================================

Work Shown:

A = P(1+r/n)^(n*t)

A = 2500*(1+0.065/1)^(1*2)

A = 2,835.5625

A = 2,835.56

------------

In the compound interest formula above, I used

  • P = 2500 = deposit amount
  • r = 0.065 = decimal form of 6.5% interest
  • n = 1 = compounding frequency of 1 time per year (annually)
  • t = 2 = number of years

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This question is down below. The picture attached below. <br> Thanks.
Ostrovityanka [42]

The vendor has to sell 88 gingerbread houses to earn a profit of $665.60 and there is no chance that the vendor will earn $1500.

Given an equation showing profits of A Christmas vendor as

P=-0.1g^{2}+30g-1200.

We have to find the number of gingerbread houses that the vendor needs to sell in order to earn profit of $665.60 and $1500.

To find the number of gingerbread houses we have to put P=665.60 in the equation given which shows the profit earned by vendor.

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g=(300+124)/2       , g=(300-124)/2

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Put the value of P=1500 in equation P=-0.1g^{2}+30g-1200.

-0.1g^{2}+30g-1200=1500

0.1g^{2}-30g+1500+1200=0

0.1g^{2}-30g+2700=0

Dividing equation by 0.1.

g^{2}-300g+27000=0

Solving the equation for finding value of g.

g=[300±\sqrt{300^{2} -4*1*27000}]/2*1

=[300±\sqrt{90000-108000}] /2

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Because \sqrt{-18000} comes out with an imaginary number so it cannot be solved for the number of gingerbread houses.

Hence the vendor has to sell 88 gingerbread houses to earn a profit of $665.60 and there is no chance that the vendor will earn $1500.

Learn more about equation at brainly.com/question/2972832

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