Find the compound amount of $5700.00 at 11.2% p.a. for seven years compounded
1 answer:
Answer:
11984.18 dollars
Step-by-step explanation:
Given that an amount of 5700 dollars is invested at 11.2% p.a. for seven years compounded.
We have compound interest formula for Principal P for n years at r% compounded annually is
Final amount =
Final amount for 5700 dollars at 11.2% p.a. for 7 years would be
11984.18 dollars.
Answer is 11984.18 dollars
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Answer:
Step-by-step explanation:
If we let x be the amount of live bait and y be the amount of natural bait, Then we can come up with the following inequalities;
We are told that John would like to get at least 3 pounds of live bait. At least 3 means 3 or more. Since x represents the amount of live bait, we have;
Moreover,we are informed that;
The store sells live bait for $12 a pound and natural bait for $7 a pound. x pounds of live bait would cost 12x while y pounds of natural bait would cost 7y. The total cost would thus be;
12x + 7y
but John only has a budget of $63. This implies that he can spend $63 at most, thus;
Finally we can have our last inequality as;