X = {3.898979486, -5.898979486}
x = {3.9 x -5.9}
I am pretty sure your correct answer is 3380.
Answer:
1) $30,821 ( loan balance after 3 months in )
2) 8.56%
Step-by-step explanation:
Final Amount of compound interest: A = P ( 1 + i ) ^ n
p = principal = $30,000
r = interest rate = 11.41% = 0.1141
n = number of years
1) Loan balance after 3 months
n = 3/12 = 0.25 years
A = 30,000 ( 1 + 0.1141 ) ^ 0.25
= $30,821 ( loan balance after 3 months in )
2) Loan Balance after 1 year
A = 30,000 ( 1 + 0.1141 ) ^ 1
= $33423
interest on loan = 33423 - 30,000 = $3423
percentage of $40,000 is $3423
= 3423 / 40,000 * 100
= 8.56%
6 bills in the deposit were $10 bills.
<u>Step-by-step explanation:</u>
The total number of bills he gave the teller = 24 bills
x + y = 24 ------------(1)
Let,
x be the number of $5 bills.
y be the number of $10 bills.
The total bank deposit made using $5 and $10 bills are $150.
<u>He deposits $5 bills and $10 bills. So, the equation can be framed as :
</u>
5x + 10y = 150 --------(2)
The question is asked for how many $10 bills were in the deposit,
Here 'y' is the number of $10 bills.
<u>To solve for y value :
</u>
The eq(1) must be multiplied by 5 and subtract eq(2) from eq(1),
5x + 5y = 120
-(<u>5x + 10y = 150</u>)
<u>-5y = -30 </u>
⇒ y = 30/5
⇒ y = 6
Therefore, there were 6 bills in the deposit that are $10 bills.
