HELP QUICK GIVING 50 POINTS!!!
1 answer:
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Answer:
The money she will end up earning in interest on the cd = $11,352.90
Step-by-step explanation:
The formula for getting the accumulated amount(compounded) is;
Where
A = Accumulated amount
P = principle (deposit)
r = interest rate and
n = no of times interest applied per time period.
The interest is compounded quarterly so in one year it will be 4 times
In 5 years
n = (5×4)-3 = 17 (as she will withdraw 3 month before the completion of five years)
A = ^17
= 7100( 1 + 0.028)^17
= 7100(1.028)^17
= 7100 * 1.599
= 11,352.90
Therefore the money she will end up earning in interest on the cd = $11,352.90
Answer:
The fraction is
Step-by-step explanation:
=
Where x and y are the numerator and denominator of our new fraction respectively.
Also given is that x + y = 24
So = 36 ÷ 60 = 0.6
x = 0.6y
Substituting x in x + y = 24 gives;
0.6y + y = 24 , 1.6y = 24
y = 24 ÷ 1.6 = 15
x = 24 - 15 = 9
So our fraction is