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3 years ago

6

Bob deposits $3000 into an account that pays simple interest at a rate of 5% per year. How much interest will he be paid in the

first 5 years?

1 answer:

Setler [38]3 years ago

4 0

Answer:

He will have paid 750 interest in the first five years.

Step-by-step explanation:

SI = P×R×T/100

3000 x 5 x 5 divided by 100

75000 / 100 = 750

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The radius of a sphere decreases at a rate of 6 m/sec. find the rate at which the surface area decreases when the radius is 20 m

DanielleElmas [232]

The radius of the sphere decreases at the rate of 6 m/ sec

That is, $\frac{dr}{dt}=-6$

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Differentiating with respect to t,

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VMariaS [17]

Answer: a) 8.779 years

b) 8.664 years

<u>Step-by-step explanation:</u>

a)

$A=P\bigg(1+\dfrac{r}{n}\bigg)^{nt}$

A: accumulated amount (balance)
P: principal amount (original/initial investment)
r: interest rate (convert to a decimal)
n: number of times compounded per year
t: number of years

Given: A = 1800, P = 900, r = 8% = 0.08, n = 3, t = unknown

$1800=900\bigg(1+\dfrac{0.08}{3}\bigg)^{3t}\\\\\\2=\bigg(1+\dfrac{0.08}{3}\bigg)^{3t}\\\\\\ln\ 2=ln \bigg(1+\dfrac{0.08}{3}\bigg)^{3t}\\\\\\ln\ 2=3t\ ln\bigg(1+\dfrac{0.08}{3}\bigg)\\\\\\\dfrac{ln\ 2}{3\ ln\bigg(1+\dfrac{0.08}{3}\bigg)}=t\\\\\\\large\boxed{8.779=t}$

b)

$A=Pe^{rt}$

$1800=900e^{0.08t}\\\\\\2=e^{0.08t}\\\\\\ln\ 2=0.08t\\\\\\\dfrac{ln\ 2}{0.08}=t\\\\\\\large\boxed{8.664=t}$

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