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fomenos
3 years ago
12

Tom deposits $2,000 into an account with an interest rate of 2.5% that is compounded quarterly. Rounding to the nearest dollar,

what is the balance in Tom's account after 5 years?
Mathematics
1 answer:
astra-53 [7]3 years ago
7 0

Answer:

The balance in Tom's account is = $ 2265.41

Step-by-step explanation:

Principal amount = $ 2000

Rate = 2.5 %

Time = 5 years

Since Amount is compounded quarterly so

New rate of interest = \frac{2.5}{4} = 0.625

Time = 5 × 4 = 20 years

Now the amount in the account is given by

A = P (1+\frac{R}{100}  )^{T}

A = 2000 (1+\frac{0.625}{100}  )^{20}

A = $ 2265.41

Therefore the balance in Tom's account is = $ 2265.41

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Account (A) is a saving account , the interest earned after 1 year is $12 .If the interest rate is 3.2% for account (A). How muc
BaLLatris [955]

Answer:

The principal for the account is $375.

Step-by-step explanation:

This is a simple interest problem.

The simple interest formula is given by:

E = P*I*t

In which E is the amount of interest earned, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.

The interest earned after 1 year is $12 .If the interest rate is 3.2% for account (A).

This means, respectively, that t = 1, E = 12, I = 0.032

We want to find P.

E = P*I*t

12 = P*0.032*1

P = \frac{12}{0.032}

P = 375

The principal for the account is $375.

8 0
3 years ago
Pls answer fast!!! HURRY
tatiyna

Answer:

The term that can be added to the list so the GCF is 12h3 would be 48h5.

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7 0
3 years ago
Which sets of side lengths represent Pythagorean triples? Check all that apply.
marshall27 [118]

Answer:

08, 15, 17

Step-by-step explanation:

Use the Pythagorean theorem.

Where the sum of both legs squared is equal to the hypotenuse squared.

8² + 15² = 17²

64 + 225 = 17²

289 = 17²

289 = 289

The side lengths that represent Pythagorean triplets are 08, 15, 17.

8 0
3 years ago
5x+4y=-14 <br>3x+6y=6<br> solve the system below by the elimation​
lana66690 [7]

Answer:

y = 4

x = -6

Step-by-step explanation:

multiply first equation by 3

3×(5x+4y)= -14 ➡ 15x + 12y = -42

multiply second equation by -5

-5×(3x+6y)= 6➡ -15x -30y = -30

now add both equations up

15x +12y -15x -30y = -42 -30 (15x will eliminate -15x)

-18y = -72

y = 4 use this to find value of x

3x + 6×4 = 6 ➡ ex = -18 ➡ x = -6

8 0
4 years ago
You have $6,500 to deposit. If you deposit the money in a savings account at your local bank, you will earn 1.45% annual interes
FinnZ [79.3K]
The amount earned from the local account must be greater than that of the online account.
Amount from local account = 6,500(1.0145)ⁿ
Amount from online account = 6,500(1.0225)ⁿ - 4x
Where n is the number of years and x is the number of ATM withdrawals.

6,500(1.0145)ⁿ > 6,500(1.0225)ⁿ - 4x
4x > 6,500[(1.0225)ⁿ - (1.0145)ⁿ]; n = 1
x > 13
The number of withdrawals must exceed 13.

The answer is C.
8 0
3 years ago
Read 2 more answers
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