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Nonamiya [84]
3 years ago
13

Fran brings home $225 per week working 15 hours of which she is able to save $40. Fran wants to have $1,400 saved at the end of

20 weeks. She may work up to 18 hours per week if she wants. She can save all of the money earned working the extra hours. Which of the following statements is true? a. Fran must work at least 15 hours per week to meet her goal. b. Fran must work at least 17 hours per week to meet her goal. c. Fran must work at least 18 hours per week to meet her goal. d. Fran will not be able to reach her goal.
Mathematics
2 answers:
8_murik_8 [283]3 years ago
8 0

Answer:

225+40+1,400=?

Step-by-step explanation:

AlladinOne [14]3 years ago
5 0

Answer: Its B

Step-by-step explanation:

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If $1,000 is invested at 4% simple interest, how much will the investment be worth after 2 years? Please explain how compound an
Novay_Z [31]
<h3>Answer:</h3>
  • simple interest: $1080.00
  • compounded annually: $1081.60
<h3>Step-by-step explanation:</h3>

<em>Simple Interest</em>

Simple interest is computed on the principal amount only. Each year, 4% of the principal is added to the balance. So, at the end of 2 years, the balance is ...

... $1000 + 0.04×$1000 + 0.04×$1000

... = $1000×(1 + 0.04×2) = $1000×1.08

... = $1080.00

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<em>Comment on the computation</em>

The added interest is the rate (per year) multiplied by the number of years. Here, that is 0.04×2×(principal amount). The formula for the simple interest earned is often seen as ...

... I = Prt . . . . . where I is the amount of interest, P is the principal amount, r is the interest rate for the time period, t is the number of time periods.

The account balance (A) with interest added is ...

... A = P + I = P + Prt

... A = P(1 +rt)

Here, the time period is years, and the rate given is an annual rate.

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<em>Compound Interest</em>

Compound interest is computed on the <em>account balance</em> at the beginning of the period, not just the <em>principal</em> amount. After the first period, the account balance includes interest earned so far. So, the interest is earning interest. That is why it is called compounded interest.

Here, the balance at the end of the first year is the principal amount plus the interest that has earned:

... $1000 + 0.04×$1000 = $1000×1.04 = $1040.00

The balance at the end of the second year when the interest is compounded is this account balance plus the interest it earns:

... $1040 + 0.04×$1040 = $1040×1.04 = $1081.60

You may notice that the intial principal, $1000, has been multiplied by the factor 1.04 twice. Using exponents, the multiplier for a period of 2 years is 1.04×1.04 = 1.04².

_____

<em>Comment on the computation</em>

The multiplier of the account balance each year is raised to a power that is the number of years. Here, the account balance at the end of 2 years is (1+0.04)² times the principal amount. A formula that is seen for this is ...

... A = P(1 +r)^t . . . . . where A is the final account balance, P is the principal amount, r is the interest rate for the time period, and t is the number of time periods.

7 0
3 years ago
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sergij07 [2.7K]

Answer:

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What does m equal 2+2m=6
Lorico [155]
2 + 2m = 6 equals m = 2.

First, 
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Second, simplify 6 - 2 to get 4. Your problem should look like: 2m = 4.
Third, divide both sides by 2. Your problem should look like: m = \frac{4}{2}
Fourth, simplify \frac{4}{2} to 2. Your problem should look like: m = 2, which is the answer. 
7 0
3 years ago
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