All categories

3 years ago

Use the compound interest formula to compute the total amount accumulated and the interest eamed.

Mathematics

1 answer:

RideAnS [48]3 years ago

7 0

Answer:

$12,137.39

Step-by-step explanation:

Use the Compound Amount formula:

A = P (1 + r/n)^(nt), where r is the interest rate as a decimal fraction, n is the number of times the interest is compounded each year, and t is the number of years.

Here, A = $9000(1 + 0.075/12)^(12*4), or

= $9000(1.3486) = $12,137.39

You might be interested in

Sammy buys his clothes at super discounts. On saturday he bought shoes regularly priced at $40 for 25% off, and jacket regularly

Georgia [21]

Answer:

A. $100

B. 29%

Step-by-step explanation:

A. To find total price of the items Sammy bought we will add the price of shoes and jacket after discount.

Let us find price of shoes after 25% discount.

$\text{Price of shoes after discount}=40-(\frac{25}{100}*40)$

$\text{Price of shoes after discount}=40-(\frac{1}{4}*40)$

$\text{Price of shoes after discount}=40-10=30$

Therefore, price of shoes after discount is $30.

Now let us find price of jacket after 30% discount.

$\text{Price of jacket after discount}=100-(\frac{30}{100}*100)$

$\text{Price of jacket after discount}=100-30$

$\text{Price of jacket after discount}=70$

Therefore, price of jacket after discount is $70.

Now let us add both prices to find the total price of the items.

$\text{Total price of items}=30+70$

$\text{Total price of items}=100$

Therefore, the total price of the items bought by Sammy is $100.

B. To find the percent discount which Sammy got on his total purchases, we will use percent change formula.

$\text{Percent change}=\frac{\text{Difference}}{\text{Original value}}\times 100$

Total price without discount= 100+40=140

$\text{Discount percent}=\frac{140-100}{140}\times 100$

$\text{Discount percent}=\frac{40}{140}\times 100$

$\text{Discount percent}=0.2857142857142857\times 100$

$\text{Discount percent}=28.57142857142857\approx 29$

Therefore, Sammy got approximately 29% discount on his total purchases.

7 0

4 years ago

How do you solve equations that contain addition or subtraction?

Misha Larkins [42]

Any equation given, with a variable, could be solved by applying the inverse operation.

Example:-

4 + x = 8
-4 -4

x = 8 -4
x = 4

Answer; x = 4

6 0

4 years ago

Read 2 more answers

Which of the following points represents -2 1/4?

Studentka2010 [4]

Point E represents -2 1/4

5 0

4 years ago

At the bulk food store, Stacey bought 7 pounds of nuts. She used 8 ounces of nuts in a recipe and then put the rest of the nuts

murzikaleks [220]

There are two small bags on nuts

7 0

4 years ago

Express Courier Service has found that the delivery time for packages is normally distributed, with mean 13 hours and standard d

Sladkaya [172]

Answer:

Step-by-step explanation:

Express Courier Service has found that the delivery time for packages is normally distributed. So we use

z = (x - mean)/standard deviation

mean = 13

standard deviation = 2

x = time of delivery in hours

a) P(0 lesser than/equal to 18)

z = (18-13)/2 =5/2 = 2.5

Using the normal distribution table, the value is 0.9938

b) to be 95% sure, let the time be t

From the table, the equivalent of z that is 0.95 = 1.645

So 1.645 = (t-13)/2

t-13 = 3.29

t = 3.29+13= 16.29 hours

8 0

3 years ago