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oksano4ka [1.4K]
3 years ago
11

Assume that you set aside $500 per year, and invest that money over the next five years in an account earning 6%. What is the am

ount of interest you will earn on this investment?
Mathematics
1 answer:
Blizzard [7]3 years ago
3 0

Answer:

150

Step-by-step explanation:

This is a case of simple interest.

The formula for this is as follows:

S.I = PRT/100

P = principal = $500

R = Rate = 6%

T = Time .= 5 years

Substituting all in the earlier equation will yield:

S.I = (500 * 6 * 5)/100 = 15,000/100 = $150

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Answer:

$7153.03

Step-by-step explanation:

To find the total amount after 3 years, we can use the formula for compound tax:

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

where P is the final value, Po is the inicial value, r is the rate, t is the amount of time and n depends on how the tax is compounded (in this case, it is semi-annually, so n = 2)

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3 years ago
X-5+x-11=100 what is the reason for this statement for geometry?​
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Which equation can be used to find the surface area of the cylinder?
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