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Nitella [24]
3 years ago
8

If you invested $500 at 5% simple interest for 2 years, how much interest do you earn? Show work and answer in complete sentence

s to earn full credit.
If you invest $500 at 3% compounded monthly for 2 years, how much interest you do earn? Show work and answer in complete sentences to earn full credit.




Which would you rather do?
Mathematics
1 answer:
melisa1 [442]3 years ago
7 0

Answer:

i) $500 at 5% simple interest for two years.

   Interest = 550 - 500 = $50

ii) $500 at 3% compounded monthly for 2 years.

   Interest = 530.88 - 500 = $30.88

I would take the first option i)$500 at 5% simple interest for two years.

Step-by-step explanation:

i) $500 at 5% simple interest for two years.

  Initial amount, P = $ 500

  Rate of interest, r = 0.05

  Time in years, t = 2

 Therefore Final amount A = P(1 + rt) = 500(1 + (0.05  2) ) = $550

  Therefore Interest = 550 - 500 = $50

ii) $500 at 3% compounded monthly for 2 years

   Initial or Principal Amount, P  = $500

   Rate of interest, r =0.03

   number of conversions, m = 12

    Time in years, t = 3

 Therefore final amount,   = $530.88

Therefore Interest = 530.88 - 500 = $30.88

I would take the first option i) $500 at 5% simple interest for two years.

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Just plug in the numbers for the variables.


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Yearly tuition, housing, and fees for a local college are $10,500, $1300, and $2170 respectively. You have saved $3100 and have
Natalija [7]

Answer:

4,370

Step-by-step explanation:

add 10,500, 1,300, and 2,170

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got it

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23. Two coins are tossed. Alan gets a point if the coins match and Sondra gets a point if they do not match.
Keith_Richards [23]

Answer:

C. They have the  same chance of winning.

Step-by-step explanation:

Probability (2 tails) = 1/2 * 1/2 = 1/4

Probability( 2 heads = 1/2 * 1/2 = 1/4.

Therefore the Probability  they match = 1/4 + 1/4 = 1/2.

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5 0
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Read 2 more answers
Can you Afford to Enlarge this?You each want to have a 3" X 5' picture ofprinted so that you canput it on your dartboard. It cos
Marizza181 [45]

Given:

\text{ Dimension = 3}\times5

Sol:

Area of picture is:

\begin{gathered} =\text{ length}\times\text{ Width} \\  \\ =15 \end{gathered}

If the cost $10 per square inch then price of 15 square inch is:

\begin{gathered} =15\times10 \\  \\ =150 \end{gathered}

If the quadruple of dimension that mean:

\begin{gathered} \text{ l ength = 4 length} \\  \\ Width\text{ = 4 width} \end{gathered}

So area is:

\begin{gathered} A=4\text{ length}\times4\text{ Width} \\  \\ A=4(15) \\  \\ A=60 \end{gathered}

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\begin{gathered} =60\times10 \\  \\ =600 \end{gathered}

3 0
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Elodia [21]

Answer:

6.8% decrease

Step-by-step explanation:

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a drop of 5% means that only 95% of 80 girls remained on honor roll from last year; .95 x 80 = 76

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-.068, which represents a 6.8% decrease

3 0
2 years ago
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