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goblinko [34]
3 years ago
14

1. Over 3 years, how much more does $3000 in a savings account with an APR of 3.2% compounded

Mathematics
1 answer:
Sedbober [7]3 years ago
5 0

Answer:

$1080

Step-by-step explanation:

((3000 \times 0.032) \times 2) \times 3 = 576

convert % to decimal by multiplying 3.2%x100=0.032

then multiply by initial amount 3000x0.032

then multiply by 2 because it's compounding semiannual

then multiply by 3 because it's over a 3 yr period

do the same for the quarterly compound but multiply by 4 because it's quarterly

((3000 \times 0.03) \times 2) \times3 = 1080

over a 3 yr period the quarterly compounded amount will earn:

1080 - 576 = 504

$504 more than the account compounded semiannual

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From the markings on the diagram, we can tell E is the midpoint of BC and <u>D</u> is the midpoint of AC. We can apply the <u>triangle midsegment theorem</u>: ED = ½BA. Substituting in the expressions for the lengths and solving for x, we get x = <u>5</u>. Now, since BE = x, then BC = <u>10</u>.

<h3>What is triangle midpoint theorem?</h3>

Triangle midpoint theorem states that the line segment which joins the midpoints of two (2) sides of a triangle is parallel to the third side, and it's congruent to one-half of the third side.

By applying the triangle midpoint theorem, we can find the value of x:

ED = ½BA

x + 2 = ½(4x - 6)

2x + 4 = 4x - 6

4x - 2x = 6 + 4

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x = 10/2

x = 5.

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BC = 5 + 5

BC = 10.

Read more on triangle midpoint theorem here: brainly.com/question/16047906

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