Answer:
$7995.85
Step-by-step explanation:
We will use simple interest formula to solve our given problem.
, where,
A = Amount after t years,
P = Principal amount,
r = Annual interest rate in decimal form,
t = Time in years.








Therefore, Judy will will pay back on January 20: <u>$7995.85</u>.
Answer:
$3.94
Step-by-step explanation:
You will need to use the compound interest formula for this.

P = initial balance
r = interest rate
n = number of times compounded annually
t = time
Your equation will look like this:
= 3.94
Answer:
14.02
Step-by-step explanation:
You'd have to write equations for the price per month for each club.
Let x equal the number of months of membership, and y equal the total cost.
Club A's is y
=
24x
+
21.50 and Club B's is y
=
17.25
x
+
41.00 Because we know that the prices, y
, would be equal, we can set the two equations equal to each other.
24x
+
21.50
=17.25
x+
41.00
subtract 21.50 both sides
. We can now solve for x by isolating the variable.
24x=17.25x+19.5
divide 17.25x
1.39x=19.5
divide 1.39 both sides
x=14.02
After five months, the total cost would be the same.