Michaela catches 3 fish, which weigh a total of 19 1/2 pounds. One fish weighs 7 5/8 pounds and another weighs 5 3/4 pounds. How
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If I deposit $400 each month into an account earning 8% interest compounded monthly, I will have $6,517 in my account in 35 years. The total money that I will put into the account is $168,000. I will earn a total compound interest of $6,117.
- Calculating the Sum of Money in 35 years
Given information is as follows,
Principal, P = $400
Rate = 8%
Time, T = 35 years
n = 12 (Compounded monthly)
The amount for compound interest is given as,
A =
A =
A = 6,517.02
A = $6,517 (to the nearest cents)
- Calculating the Amount Put in Account
Since, $400 is deposited every month for 35 years,
Amount Put in 35 years for this compound interest =$400 × 12 × 35
= $168,000
- Calculating the Compound Interest
A = P + CI
Thus, the compound interest is given by,
CI = A - P
CI = 6517 - 400
CI = $6,117
I will earn a total interest of $6,117
Learn more about compound interest here:
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Hello!
First, let's write the problem.
Subtract 3x from both sides.
The opposite of division is multiplication, so we are going to multiply in order to undo the fraction.
Our final answer would be,
Thanks!
-TetraFish
First, let's write the problem.
Subtract 3x from both sides.
The opposite of division is multiplication, so we are going to multiply in order to undo the fraction.
Our final answer would be,
Thanks!
-TetraFish