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4 years ago

What is the balance after 7 years if you deposit $2800 in an account that pays 4% interest compounded yearly ?

Mathematics

1 answer:

SVEN [57.7K]4 years ago

6 0

Answer:the balance after 7 years is $3216

Step-by-step explanation:

A) Initial amount deposited into the account is $2800 This means that the principal,

P = 2800

It was compounded yearly. This means that it was compounded once in a year. So

n = 1

The rate at which the principal was compounded is 4%. So

r = 4/100 = 0.04

It was compounded for 7 years. So

t = 7

The formula for compound interest is

A = P(1+r/n)^nt

A = total amount in the account at the end of t years. Therefore

A = 2800(1 + 0.04/2)^ 1× 7

A = 2800(1 + 0.02)^7

A = 2800(1.02)^7

A = $3216

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3 years ago

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HACTEHA [7]

Ella has to add 32.833 lbs of water to get 33.333 lbs of syrup.

<u>Solution:</u>

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3 years ago

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pashok25 [27]

Answer:

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Step-by-step explanation:

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4 years ago

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alexgriva [62]

Answer:

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3 years ago

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oksian1 [2.3K]

Solve for x and graph the solution on the number line below.

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The idea of inequality, which is the state of not being equal, especially in terms of status, rights, and opportunities, is at the core of social justice theories. However, because it frequently has diverse meanings to different individuals, it is prone to misunderstanding in public discourse. However, certain distinctions are universal.

In mathematics, inequalities specify the connection between two non-equal numbers. Equal does not imply inequality. Typically, we use the "not equal sign (≠)" to indicate that two values are not equal. But several inequalities are utilized to compare the numbers, whether it is less than or higher than.

Learn more about inequalities brainly.com/question/20383699

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