Approximately how much money would Manny have if he invested $1,200 at an interest rate
1 answer:
Answer:
$1,701.64
Step-by-step explanation:
(see attached for reference)
recall that for compound interest, the following formula applies:
A = P [1 + (r/n) ] ^ (nt), where
A = final amount (we are asked to find this)
P = Principal amount = $1,200
r = interest rate = 5% = 0.05
t = 7 years
n = 12
Substituting these into the equation,
A = 1200 [1 + (0.05/12) ] ^ [(12)(7)]
A = $1,701.64
You might be interested in
Answer:
No, it's not a right triangle.
Step-by-step explanation:
1. The Pythagorean Theorem states that the area of the square whose side is the hypotenuse (longest side of a right triangle) is equal to the sum of the area of the squares from the two other sides.
2. The longest side in this "triangle" has 18 centimeters, and the other 2 sides are 5 and 12 centimeters.
3. Let's apply the Pythagorean Theorem to see if 5^2 + 12^2 = 18^2
4. Okay, so the sum of the area of the squares from the two other sides is not equal to the hypotenuse squared, therefore, it's not a right triangle.
(Plus, it's not even a triangle because 7 < x < 17, and the third "side", 18, is not between 7 and 17.)