Ask question

Ask question

All categories

3 years ago

10

Alice has 300 dollars in her savings account that earns 5% annually the interest is not compounded how much interest will she ea

rn in one year

1 answer:

Gala2k [10]3 years ago

3 0

$300 in saving account that earn 5%
5/100 x 12=3/5 =0.6
300+0.6=$300.6
3.006%
3.006% in one year

You might be interested in

For each handmade card Jacquie sells, she makes a profit of $0.35. In one week she made a profit of $42. she sells the cards for

NARA [144]

Ella hizo 120 tarjetas al venderlas hizo $90 y menos lel beneficio son $48

5 0

3 years ago

Write (9+6/)-(1+3/) as a complex number in standard form

tensa zangetsu [6.8K]

Answer:

9+6=15

1+3=4

15-4=10

3 0

3 years ago

Which best shows one 1 half 3

SOVA2 [1]

The answer to that would be B

4 0

3 years ago

Read 2 more answers

Find formula for nth term of sequence -1, 1/2, -1/3,1/4,-1/5,

Reika [66]

I have to make twenty characters, but the answer is 1/n

6 0

3 years ago

Hunter invested $750 in an account paying an interest rate of 6\tfrac{5}{8}6 8 5 % compounded continuously. London invested $7

kompoz [17]

Answer: $ 55

Step-by-step explanation:

When interest is compounded continuously, the final amount will be

$A=Pe^{rt}$

When interest is compounded daily, the final amount will be

$A=P(1+\dfrac{r}{365})^{365t}$

, where P= Principal , r = rate of interest , t = time

For Hunter , P= $750, r = $6\dfrac{5}{8}\%=\dfrac{53}{8}\%=\dfrac{53}{800}=0.06625$

t = 18 years

$A=750e^{0.06625(18)}=\$2471.48$

For London , P= $750, r = $6\dfrac{1}{2}\%=\dfrac{13}{2}\%=\neq \dfrac{13}{200}=0.065$

t = 18 years

$A=750(1+\dfrac{0.065}{365})^{18(365)}=\$2416.24$

Difference = $ 2471.48 - $ 2416.24 =$ 55.24≈$ 55

Hence, Hunter would have $ 55 more than London in his account .

7 0

3 years ago