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Arisa [49]
3 years ago
10

if $8,000 is deposited in an account paying 12% compounded monthly, then what amount will be in the account after 7 years? ( ple

ase include solutions, thank you)

Mathematics
2 answers:
andrew-mc [135]3 years ago
8 0
Rate = rate / 12monthsrate = .12 / 12
rate = <span>.01 </span>

Total = 8,000 *(1<span>.01)^ 12 * 7
</span>
Total = 8,000 *(1<span>.01)^84
</span>
<span><span><span>Total = 8,000 * 2.306722744 </span> </span> </span>
Total = <span> <span> <span> 18,453.78 </span> </span> </span>


bekas [8.4K]3 years ago
4 0
The compound interest formula is
FV=P(1+(r/n))^n*t
FV= future value
P= principal or amount of $ deposited
r= annual interest rate in decimal form
n= number of times compounded per year
t= time in years

Therefore 8000(1+(.12/12))^12*7 which equals $18453.78
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Dots sells t-shirts ($2) and shorts ($4). In April total sales were $456. People bought 4 times as many t-shirts as shorts. How
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Step-by-step explanation:

Let t = t-shirts and s = shorts.

We know that people bought 4 times as many t-shorts as shorts, which can be set to the equation t = 4s

Since t-shirts cost $2, shorts cost $4, and the total sales was $456, we can set the equation 2t +4s = 456

So our two equations are:

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Since we have the number of shorts, we can plug that back into the 1st equation to find the number of t-shirts sold:

t = 4s

t = 4(38)

t = 152

There were 152 t-shirts sold.

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