1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
solniwko [45]
3 years ago
13

Using the formula in model 1, choose the correct answers for the total amount and amount of interest earned in the following com

pound interest problem.
$850 at 2% for 9 years, compounded annually.

Total Amount = $
Interest Amount =$
Mathematics
1 answer:
DIA [1.3K]3 years ago
7 0

The total amount is $ 1015.82 and interest amount is $ 165.82

<em><u>Solution:</u></em>

<em><u>The formula for amount when interest is compounded annually is:</u></em>

\mathrm{A}=P\left(1+r}\right)^{n}

Where,

"A" is the total amount

"P" is the principal

"r" is the rate of interest in decimal form

"n" is the number of years

<em><u>From given, $850 at 2% for 9 years, compounded annually</u></em>

P = 850

t = 9 years

r = 2 \% = \frac{2}{100} = 0.02

<em><u>Substituting the given values we get,</u></em>

A = 850(1+0.02)^9\\\\A = 850 \times 1.02^9\\\\A = 850 \times 1.1950\\\\A = 1015.82

Thus total amount is $ 1015.82

Interest amount = Total amount - principal

Interest amount = 1015.82 - 850

Interest amount = 165.82

Thus total amount earned is $ 1015.82 and interest amount is $ 165.82

You might be interested in
Ben and Alyssa play a game in which they earn the same number of points for each goal and lose the same number of points for eac
Nadya [2.5K]

Answer:

Each goal gives 5 points and a penalty costs 7 points.

Step-by-step explanation:

Let a penalty cost = x points

And a goal gives = y points

Ben makes 7 goals and 2 penalties ending the game with 21 points,

7y - 2x = 21 --------(1)

Alyssa makes 10 goals and 8 penalties ending the game with (-6) points,

10y - 8x = -6

5y - 4x = -3 --------(2)

Equation (1) multiplied by 2, then subtracted from equation (2),

(5y - 4x) - 2(7y - 2x) = -3 - 2(21)

5y - 4x - 14y + 4x = -3 - 42

-9y = -45

y = 5

From equation (1)

7(5) - 2x = 21

35 - 2x = 21

2x = 35 - 21

2x = 14

x = 7

Therefore, each goal gives 5 points and a penalty costs 7 points.

5 0
2 years ago
The temperature was 8 degrees Celsius at midnight.
Pavel [41]

Answer:

-4 degrees Celsius

Step-by-step explanation:

start at 8

subtract 12 from 8

8-12=-4

6 0
2 years ago
Read 2 more answers
If a+b =5, b+c=6, c+a=7. then find the value of a​
vlabodo [156]

Answer:

a = 3

Step-by-step explanation:

8 0
2 years ago
Read 2 more answers
Evaluate 8 + 3e when e = 2.<br> Need the Answer
alexandr402 [8]

Answer:

The answer is 14

Step-by-step explanation:

e=2

Substitute 2 in for e

8 + 3(2)

Solve

14

6 0
3 years ago
What is the best estimate of 48%of 60
nadezda [96]
Correct answer is 36%
5 0
3 years ago
Read 2 more answers
Other questions:
  • a 2ft vertical post casts a 10in shadow at the same time a nearby cellphone tower casts a 115ft shadow. how tall is the tower ?
    12·1 answer
  • Which describes the slope of this line?
    11·2 answers
  • Which expression is equivalent to 4/9x7?
    7·1 answer
  • Solve for h. a = ch + f A. h = B. h = C. h = a/c – f D. h =
    10·1 answer
  • Please Help!!
    11·1 answer
  • PLEASE HELP PLEASE I WILL MARK YOU BRAINLIEST!!!!
    5·2 answers
  • This is so hard i cant do it :(
    7·2 answers
  • Whch expression could be used to change 8 kilometers per hour to meters per minute
    9·1 answer
  • 20a + 158 + 6c = 20 (6) +15(4) + 6(8)<br> ?<br> ?<br> +<br> ?<br> 2<br> +<br> ?
    7·1 answer
  • Simplify your answer.<br><br><br> 9x 5/9
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!