Please help or at least give me a clue, thanks
1 answer:
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The amount you should deposit is $4709.18
Step-by-step explanation:
The formula for compound interest, including principal sum is
, where:
- A is the future value of the investment/loan, including interest
- P is the principal investment amount
- r is the annual interest rate in decimal
- n is the number of times that interest is compounded per unit t
- t is the time the money is invested or borrowed for
∵ You want to have $5000 in your savings account in 2 years
∴ A = 5000
∴ t = 2
∵ The account pays 3% annual interest, compounded monthly
∴ r = 3% = 3 ÷ 100 = 0.03
∴ n = 12 ⇒ compounded monthly
- Substitute these values in the formula above
∴
∴
∴
- Divide both sides by
∴ P = 4709.18
The amount you should deposit is $4709.18
Learn more:
You can learn more about the compounded interest in brainly.com/question/2514241
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<h2>[A] Plane S contains points B and E.</h2>
False
As indicated in Figure A below, Plane S contains only point B (remarked in red). Point E (remarked in blue) lies on plane R.
<h2>[B] The line containing points A and B lies entirely in plane T.</h2>True
As indicated in Figure B below, the line containing points A and B lies entirely in plane T. That line has been remarked in red and it is obvious that lies on plane T.
<h2>[C] Line v intersects lines x and y at the same point.</h2>False
As indicated in Figure C below, line v intersects lines x and y, but line x in intersected at point B while line y (remarked in red) is intersected at point A (remarked in blue), and they are two different points, not the same.
<h2>[D] Line z intersects plane S at point C.</h2>True
As indicated in Figure D below, line z that has been remarked in yellow, intersects plane S at point C that has been remarked in blue.
<h2>[E] Planes R and T intersect at line y.</h2>True
As indicated in Figure E below, planes R and T intersect at line y. The line of intersection has been remarked in red.