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Neko [114]
3 years ago
10

Leroy owns a business earning $49,300 in profits, these profits are appreciating at about 2.9% each year. What are leroys profit

s after nine years ?
Mathematics
1 answer:
evablogger [386]3 years ago
7 0

Answer:

$62,167.3

Step-by-step explanation:

Profit after nine years is the amount.

Amount = Principal + Interest

Given

Earning profit = Principal = $49,300

Rate = 2.9%

Time = 9 years

Interest = Principal * Rate * Time/100

Interest = $49,300*2.9*9/100

Interest = 1,286,730/100

Interest = $12,867.30

Amount = $49,300+$12,867.30

Amount = $62,167.3

Hence leroys profits after nine years is $62,167.3

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2 years ago
Find the missing values in each row. Use the percent equation. A: Principal: $100 Interest rate: 5% Time in years: 3 Interest ea
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Answer:

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Step-by-step explanation:

The percentage equation goes thus:

Interest earned = principal * rate * time

A)

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Interest earned = $100 * 0.05 * 3

Interest earned = $15

B.)

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C.)

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Interest earned = principal * rate * time

$35 = principal * 0.1 * 7

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D.)

Principal: $200 Interest rate: Time in years:2 Interest earned: $6

Interest earned = principal * rate * time

$6 = $200 * rate * 2

$6 = $400 * rate

Rate = $6/$400

Rate = 0.015 = 1.5%

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