Answer:
The total amount due after five years is $57,000.
Step-by-step explanation:
Recall that simple interest is given by the formula:
Where <em>A</em> is the final amount, <em>P</em> is the principal amount, <em>r</em> is the rate, and <em>t</em> is the time (in years).
Since we are investing a principal amount of $38,000 at a rate of 10.0% for five years, <em>P</em> = 38000, <em>r</em> = 0.1, and <em>t</em> = 5. Substitute:
Evaluate. Hence:
The total amount due after five years is $57,000.
The answer is a =
Step-by-step explanation:
<em>1. Convert the mixed fraction to an improper fraction</em>
To find the numerator, multiply the denominator by the whole number and add the numerator to it.
The denominator remains the same.
So, 2 will be
<em>2. Now the equation is,</em>
a -
a =
+
a
<em>3. Take LCM on both sides. </em>
For the left side, multiply the first fraction by and multiply the second fraction by
a -
a =
<em>4. Solve by making a the subject</em>
=
=
=10+8a
= 10 + 8a
a = 2(10 + 8a)
a = 20 + 16a
a-16a = 20
-15a = 20
a =
a =
Therefore, the answer is a =
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