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Rufina [12.5K]
3 years ago
7

You deposit $2200 into three separate bank accounts that each pay 3% annual interest. How much interest does each account earn a

fter 6 years? Quarterly monthly and daily
Mathematics
1 answer:
Keith_Richards [23]3 years ago
7 0
This can be solve using the formula:
F = P ( 1 + i)^n
where F is the money after n years
P is the initial amount of money
i is the annual interest rate
n is the time in years
since you deposit in 3 accounts P = 2200/3
F = ( 2200 / 3) ( 1 + 0.03)^6
F = $ 875.64 is the money each account earned after 6 years
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Step-by-step explanation:

The question us incomplete without the diagram of the cone and it's dimensions as this would enable us get the exact answer.

Find attached the diagram used in solving the solution.

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