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zheka24 [161]
3 years ago
12

An investment of $6,599.20 earns 4.2% interest compounded monthly over 7 years. Approximately how much interest is earned on the

investment?
Mathematics
2 answers:
dmitriy555 [2]3 years ago
4 0
Fv=6599.20(1+0.042/12)^12*7
Fv=8850.20
Interest earned=8850.20-6599.20
=2,251
So the answer is a
DENIUS [597]3 years ago
3 0

Answer:

Find out the how much interest is earned on the investment .

To prove

Formula

Amount =P ( 1 +\frac{r}{12})^{12t}

Where P is the principle, r is rate in decimal form , t is the time.

As given

An investment of $6,599.20 earns 4.2% interest compounded monthly over 7 years.

4.2% is written in the decimal form

= \frac{4.2}{100}

= 0.042

P = $6,599.20

T = 7 years

Put in the formula

Amount = 6599.20( 1 +\frac{0.042}{12})^{12\times 7}

Amount = 6599.20( 1 +\frac{0.042}{12})^{84}

Amount = 6599.20( 1 + 0.0035)^{84}

Amount = 6599.20( 1.0035)^{84}

Amount = 6599.20\times 1.3411

Amount = $ 8850.187

Interest = Amount - Principle

             =  $ 8850.187 - $6,599.20

             = $2250.987

Therefore the interest is $2250.987

Option (a) is correct.


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                   \rule{50}{1}\large\blue\textsf{\textbf{\underline{Question:-}}}\rule{50}{1}

            <em>Find the equation of the line passing through (4, 5) and parallel to </em>

<em>                 3x-2y=4.</em>

<em />

<em>  </em>\rule{50}{1}\large\blue\textsf{\textbf{\underline{Answer and how to solve:-}}}\rule{50}{1}

First of all, We need to convert this equation from standard form (ax+by=c) into slope-intercept form (y=mx+b).

\rightarrow First, add 2y on both sides:-

                            \Large\textsf{3x+2y=4}

\rightarrow Now, subtract 3x on both sides:-

                  \Large\textsf{2y=-3x+4}

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\rule{300}{3}

Now, let's find the equation of the line that's parallel to the given line.

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\hookrightarrow\sf{y-y_1=m(x-x_1)}

Replace numbers with letters, as follows:-

\sf{y-5=-\displaystyle\frac{3}{2} (x-4)}

The equation above is the equation in point-slope form.

Incase you need it converted to slope intercept form, refer to the steps below ~

Multiply -3/2 times x and -4:-

\hookrightarrow\sf{y-5=-\displaystyle\frac{3}{2} x-6}

Now, Add 5 on both sides:-

\hookrightarrow\sf{y=\displaystyle\frac{3}{2} x+1}

\Uparrow\sf{Our\:equation\:in\:slope\;intercept\;form}

<h3>Good luck with your studies.</h3>

#TogetherWeGoFar

\rule{300}{1}

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