Nina deposited $3400 into a savings account that pays a simple annual interest rate of 2.2% how much interest will she earn afte
1 answer:
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Given:
- The principal amount that Amy opened her savings account with is $1750.
- The rate of simple interest compounded annually is 4.3%.
- The time period for which we calculate the new balance is 6 months.
To Find:
The balance after 6 months.
Answer:
The balance after 6 months will be $1787.625
Step-by-step explanation:
The principal amount that Amy opened her savings account with is $1750. We can denote this by P.
The rate of simple interest compounded annually is 4.3% which we may denote by R.
The time period for which we calculate the new balance is 6 months which can be written as 0.5 years (since the rate of interest is compounded annually, we must consider the time period in terms of years).
The amount of money accrued from the interest can be calculated by the formula
Putting in the values given in the question, we have
The amount in the bank account will be the principal amount plus the amount of interest accrued that we have calculated above.
Thus, the balance after 6 months will be 1750 + 37.625 = $1787.625.
Answer:
The product
Step-by-step explanation:
Given expression and
We have to find the product of
Consider the given expression
Multiply fractions, we have,
Cancel common factor ( b - 5 )
we have,
Apply exponent rule,
Cancel common factor b , we have,
Thus, the product