1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
andre [41]
3 years ago
9

Cynthia invests some money into a bank which pays 5% compound interest per year she wants it to be worth over £8000 at the end o

f three years what is the smallest amount to the nearest pound she can invest
Mathematics
1 answer:
ivanzaharov [21]3 years ago
3 0

Answer:

£6911 is the smallest amount Cynthia should invest to get £8000 after three years

Step-by-step explanation:

lets Assume that amount needs to invested for three years = £ x

Rate of Interest = R = 5% per year

Duration in years = n = 3 year

Amount expected after three years when compounded annually =  A = £8000

Formula for Amount of compound interest annually is a follows

A = P( 1 + R/100)^n

In our case Principal P = x , Amount A = 8000 , R = 5% and n = 3( since compounded annually). On substituting these values in above formula we get

8000 = x ( 1 + 5/100)^3

⇒8000 = x ( 105/100)^3

⇒8000 = x ( 21/20 )^3

⇒(8000 × 20 × 20 × 20)/(21×21×21) = x

⇒x = 6910.70≈6911

Hence £6911 is the smallest amount Cynthia should invest to get £8000 after three years





You might be interested in
Help help help።help plz​
In-s [12.5K]

Answer:

The perimeter is 240

Step-by-step explanation:

The side length is 60 and 60*4=240

hope this help!

7 0
3 years ago
Im Timed Help Pls I need help with math problem
Nady [450]

Answer:

35.36 i think

Step-by-step explanation:

40%x68=27.2

20%x27.2=5.44

27.2+5.44=32.64

68-32.64=35.36

$35.36

7 0
3 years ago
Given that f(x) = x2 + 6x – 2, g(x) = x – 7, and h(x) = x + 4 find each function.
choli [55]

Answer:

A) x² + 7x - 9

Step-by-step explanation:

Deduct\Add each like-term to arrive at your answer.

3 0
3 years ago
What is the slope of a line that passes through the points (-5,-3) and (9,-6)
kipiarov [429]
To find the slope given two points, you need to subtract the two y values over the two x values
(-5,-3)  (9,-6)
-5 will be x1, and -3 will be y1. 9 will be x2, and -6 will be y2. You then need to put the numbers in the correct place in the equation.
y2-y1      -6-(-3)     -9
-------- =   -------- =  ----
x2-x1       9-(-5)     14
Now that we have the slope (-9/14) you can use one of the coordinates to find the value of b.
Let's use (9,-6).
-6=-9/14(9)+b
-6=-81/14+b
+81/14
b=-3/14
Your final equation is y=-9/15x-3/14


7 0
3 years ago
A person bought some cosmetics from wholesale market at the rate of Rs 360 per dozen he sells it at Rs 80 a pair find the gain p
marusya05 [52]

Answer:

33.33%

Step-by-step explanation:

We need to calculate the <u>unit selling price and cost of each cosmetics.</u>

If a person bought some cosmetics from wholesale market at the rate of Rs 360 per dozen., then for 1 cosmetics, we will say;

x = 1 cosmetic

since 360 = 12 cosmetic

cross multiply

12x = 360

x = 360/12

x = 30

Hence the unit cost price of the cosmetics will be Rs. 30

Similarly, if he sells it at Rs 80 a pair, then he sold one cosmetic at 80/2 = Rs. 40 (a pair is 2 cosmetics)

Selling price per unit = Rs. 40

Cost price per unit = Rs. 30

percent gain = SP-CP/CP * 100%

percent gain = 40-30/30 * 100

percent gain = 10/30 * 100

percent gain = 100/3

percent gain = 33.33%

Hence the percentage gain is 33.33%

5 0
3 years ago
Other questions:
  • I don't know how to find the area
    9·2 answers
  • 52 thousandths in scientific notation
    11·1 answer
  • at the end of the day vegetables at the farm market sell for $2 a pound and a basket cost $3.50 if Charlie wants to buy a basket
    14·1 answer
  • HELPPPP!!!! geometry plzzz..... <br> What is the distance between (3,-4) and (8,8) ?
    6·1 answer
  • Kate is saving to take a SAT prep course that costs $350. So far, she has saved $180, and she adds &amp;17 to her savings each w
    13·1 answer
  • What is the greatest common factor of 3x+6y=9?
    7·1 answer
  • What is an equation of the line that passes through the point (1,-3) and is perpendicular to the line x+3y=21?
    12·1 answer
  • HELP! BRAINLIEST ANSWER!
    14·1 answer
  • Help please due today
    7·1 answer
  • a crew is picking up chairs in the gymnasium after an event. after clearing 217 chairs from the gym floor, 36 chairs still remai
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!