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3 years ago

$2,500 for 25 years at 2.75% annual simple interest

Mathematics

1 answer:

xxMikexx [17]3 years ago

3 0

Answer:

4,218.75

Step-by-step explanation:

Lets say that P is your starting principal (spelled -pal and not -ple, because Your Money is Your Pal), r is the interest rate (expressed as a decimal), and Y is the number of years you invest. Then your future value will be:

P (1 + rY) (Simple Interest)

P (1 + r)Y (Annually Compounded Interest)

Note the two formulas give the same answer for one year. After that, compound interest takes off.

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In a certain card game you draw one card off a standard deck of 52 cards. If you draw a spade you get paid $12, if you draw a re

Mariulka [41]

Step-by-step explanation:

In a standard deck of 52 cards, there are 2 red aces, 2 red Queens, and 13 spades. That leaves 35 cards for everything else.

For the game to be fair, the cost must equal the expected value. The expected value is the sum of each outcome times its probability.

C = (12) (13/52) + (20) (2/52) + (38) (2/52) + (0) (35/52)

C = 68/13

C ≈ 5.2308

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2 years ago

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Alchen [17]

Step-by-step explanation:

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2 years ago

The measure of<ABC is 102°, find the measure of <DBC

mylen [45]

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2 years ago

If my finger was about 3 inches long, about how many centimeters would it be?

liraira [26]

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~Silver

7 0

3 years ago

Read 2 more answers

Andrew is about to leave for school. If he walks at a speed of 50 meters per minute, he will arrive 3 minutes after the bell rin

Mariana [72]

Answer:

The answer is: 13 minutes

Step-by-step explanation:

First Let us form equations with the statements in the two scenario

$time=\frac{distance}{speed}$

Let the time in which the bell rings be 'x'

1. If Andrew walks (50 meters/minute), he arrives 3 minutes after the bell rings. Therefore the time of arrival at this speed = (3 + x) minutes

$3 + x =\frac{distance}{50}\\distance = 50(3+x) - - - - - (1)$

2. If Andrew runs (80 meters/minute), he arrives 3 minutes before the bell rings. Therefore the time taken to travel the distance = (x - 3) minutes

$x - 3 = \frac{distance}{80} \\distance = 80(x-3) - - - - - (2)$

In both cases, the same distance is travelled, therefore, equation (1) = equation (2)

$50(3+x)=80(x-3)$

$150 +50x=80x-240\\$

Next, collecting like terms:

$150 + 240 = 80x - 50x\\390 = 30x\\30x = 390\\$

dividing both sides by 3:

x = 390÷30 = 13

∴ x = 13 minutes

7 0

3 years ago