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Gnesinka [82]
3 years ago
14

You deposit $675 in an account that earns 3.4% annul interest compounded twice a year. A. Write a function that represents this

situation. B. Find the balance in the account after 2.5 years
Mathematics
1 answer:
Nady [450]3 years ago
7 0

Answer:

Step-by-step explanation:

A) Initial amount deposited into the account is $675 This means that the principal,

P = 500

It was compounded twice in a year. This means that

n = 1

The rate at which the principal was compounded is 3.4%. So

r = 3.4/100 = 0.034

It was compounded for t years

The formula for compound interest is

A = P(1+r/n)^nt

A = total amount in the account at the end of t years. Therefore, the function that represents this situation would be

A = 675(1 + 0.034/2)^ 2 × t

A = 675(1.017)^2t

B) at t = 2.5,

A = 675(1.017)^2 × 2.5

A = 675(1.017)^5

A = $734.36

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Answer:

  • 24-cent: 11
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Step-by-step explanation:

I find it easiest to solve these using the variable to represent the number of the most-expensive item. Let x represent the number of 33-cent stamps. Then the total value (in cents) is ...

  33x +24(30 -x) = 891

  9x = 171 . . . . . . . . . . . . . subtract 24(30), collect terms

  x = 19 . . . . . . . . . . . . divide by 9

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Mr. Akika had 11 24-cent stamps and 19 33-cent stamps.

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<em>Additional comment</em>

You seem to have several of these to solve. They all have a similar solution.

If we let x represent the number of higher-value items, N, the total number of items, V the total value, and v1 and v2 the individual values (v2 > v1), the equation is ...

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