Question

Lin deposited $300 in a savings account that has a 2% interest rate per year. How much is in her account after 1 year? After 2 years? Diego wants to sell his bicycle. It cost $150 when he bought it but has depreciated by 15%. How much should he sell it for? I will give brainlyies

Answer 1

The value after 20 years is $ 723.514

Solution:

Formula for Amount compounded annually is as follows:  

Where,

"A" is the total amount

"p" is the principal sum

"r" is the rate of interest

"n" is the number of years

From given question,

p = $ 300

r = 4.5 %

n = 20 years

Substituting the values we get,

Thus value after 20 years is $ 723.514

PART 2)

2. Given data

Cost of bicycle = $150

Depreciation = 15%

Firstly let us calculate 15% of $150

(15/100)*150 =0.15*150

= $22.5

Since the value depreciated

We will minus the the depression from the initial amount

New amount = 150-22.5=

$127.5

Answer 2

Answer:

Step-by-step explanation:

Lin after 1 year has 300+2*300/100=300+6=306  $

     after 2 years has 306+2*306/100=306+6.12=312.12$

150-15*150/100=150-22.5=127.5 $ the price for the bicycle