Answers:
- interest = $75
- balance at maturity = $3075
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Explanation:
The simple interest formula is
i = p*r*t
where in this case,
- p = 3000 = principal (amount deposited)
- r = 0.10 = annual interest rate in decimal form
- t = 3/12 = 0.25 = number of years
So,
i = p*r*t
i = 3000*0.10*0.25
i = 75 is the amount of interest earned
This adds onto the initial deposit to get the final balance when the CD matures (ie when you're able to withdraw the money without penalties)
The balance at maturity is p+i = 3000+75 = 3075 dollars
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In short, you deposit $3000 into the CD and have to wait 3 months for the amount to update to $3075.
Since we are looking for the principal amount, then all we have to do is reverse the process of getting the amount of tax. In order to get the principal, you just have to divide 22 with 0.05. The answer is 440 so that is the principal amount you are looking for.
Answer:
use the formula sn= n(a1+an)/2
Step-by-step explanation:
2982=28(228+an)/2
5964=28(228+an)
5964/28=228+an
213=228+an
an=-15(last term)
to find difference use formula
an = a+(n-1)d
-15=228+(28-1)d
-243=27d
d=-243/27
d=-9
arithmetic sequence can be found be keep on subtracting 9 from 228
hence the arithmetic sequence is
228, 219, 210, 201, 192, 183, 174........-15
1.) 168 inches
2.) 96 inches
