Answer: 3/2
Step-by-step explanation:
Answer:
Step-by-step explanation:
Use the basic simple interest formula:
P * r * t = I and put the info into a table with those variables along the top, formig the columns we need:
P * r * t = I
Acct 1
Acct 2
If we have a total of 1500 to split up between 2 accounts, we put x amount of money into one and then have 1500-x left to put into the other. We will fill those in along with the interest rates in decimal form and the time of 1 year:
P * r * t = I
Acct 1 x .04 1
Acct 2 1500-x .05 1
Looking at the formula we are told that Prt = I, so we will multiply P times r times t and fill in the I column:
P * r * t - I
Acct 1 x .04 1 .04x
Acct 2 1500-x .05 1 .05(1500-x)
The total Interest earned by the addition of the interest earned from both accounts is 69.50. So we add the interest column together and set it equal to 69.50:
.04x + .05(1500 - x) = 69.50 and
.04x + 75 - .05x = 69.50 and
-.01x = -5.5 so
x = 550
That's how much money is in the account earning 4% interest.
Answer:
1.333 repeated
Step-by-step explanation:
After 7 years fund balance will be $2152336.05 if the philanthropist pledges to donate 10% of a fund each year.
<h3>What is an exponential function?</h3>
It is defined as the function that rapidly increases and the value of the exponential function is always a positive. It denotes with exponent. 
where a is a constant and a>1
We have:
A philanthropist pledges to donate 10% of a fund each year.
We can find the amount left after 7 years as follows:
A = 450000(1 - 0.1)⁷
10% of a fund each year.
Rate r = 10% = 0.1
A = 450000(0.9)⁷
A = $2152336.05
Thus, after 7 years fund balance will be $2152336.05 if the philanthropist pledges to donate 10% of a fund each year.
Learn more about the exponential function here:
brainly.com/question/11487261
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