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mario62 [17]
3 years ago
10

James and Terry open a savings account that has a 2.75% annual interest rate, compounded monthly. They deposit $500 into the acc

ount each month. How much will be in the account after 20 years? A. $159,744.59 B. $48,407.45 C. $330,600.15 D. $580,894.18
Mathematics
1 answer:
katovenus [111]3 years ago
7 0

Answer:

<h2>Option A is the answer(here the answer is calculated taking the whole value, without approximating it to a nearest value)</h2>

Step-by-step explanation:

Annual interest rate is 2.75%. Hence, the monthly interest rate is \frac{2.75}{12}

The amount will be compounded (20\times12) = 240 times.

Every month they deposits $500.

In the first month that deposited $500 will be compounded 240 times.

It will be 500\times [1 + \frac{2.75}{1200} ]^{240}

In the second month $500 will be deposited again, this time it will be compounded 239 times.

It will give 500\times [1 + \frac{2.75}{1200} ]^{239}

Hence, the total after 20 years will be 500\times [1 + \frac{2.75}{1200} ]^{240} + 500\times [1 + \frac{2.75}{1200} ]^{239} + ........+ 500\times [1 + \frac{2.75}{1200} ]^{1} = 160110.6741

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vova2212 [387]

Answer:

169/4

Step-by-step explanation:

x² - 13x + c

x² -2(x)(13/2) +(13/2)²

(13/2)² = 169/4 or 42 ¼

8 0
3 years ago
What is 9× &gt;270 using inequalities
swat32

Answer:

x > 30

Step-by-step explanation:

divide both sides by 9

this gets the x on one side by itself.

270/9 = 30

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3 years ago
In is shopping for a couch with her dad and hears him ask the salesperson, "How much is your commission?" The salesperson says t
Y_Kistochka [10]

Answer:

A. $27.23

B. $467.77

Step-by-step explanation:

Lin is shopping for a couch with her dad and heard him ask the salesperson “how much is your commission?” The salesperson says that her commission is 5 1/2% of the selling price. A.How much commission will the salesperson earn by selling a couch for $495?

B.How much money will the store get from the sale of the couch?

Salesperson commission = 5 1/2%

Price of couch = $495

A. Amount earned by the salesperson = 5 1/2% of $495

= 5.5% × 495

= 0.055 × 495

= 27.225

Approximately

Amount earned by the salesperson = $27.23

B.How much money will the store get from the sale of the couch?

Amount the store get = Total price - amount earned by salesperson

= $495 - $27.23

= $467.77

8 0
3 years ago
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Answer:

The grandmother is who to go to for heavy metal. The grandmother has a 60% chance of getting something else while the grandfather has a 71% chance. The odds aren't good but granny is who to go with.


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2 years ago
What is the factors of 27
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Answer:

1, 27, 3, 9,

Step-by-step explanation:

To find the factors of 27 you need to find which whole number times another whole number = 27

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3 years ago
Read 2 more answers
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