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Lapatulllka [165]
3 years ago
14

You invest 23,400 annual interest rate of 4% compounded annually for seven years what is the balance of the account at the end o

f that time
Mathematics
1 answer:
sp2606 [1]3 years ago
8 0

Answer: 30792.80

=====================================

Work Shown:

We deposit P = 23400 dollars for t = 7 years, which is compounded n = 1 times per year at an interest rate of r = 4% = 0.04 (we'll use the decimal form of the interest rate)

So this means...

A = P*(1+r/n)^(n*t)

A = 23400*(1+0.04/1)^(1*7)

A = 23400*(1+0.04)^(7)

A = 23400*(1.04)^(7)

A = 23400*1.31593177923584

A = 30792.8036341187

A = 30792.80

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\large\boxed{C.\ 75 < x < 110\ and\ 0 < y\leq50}

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2 years ago
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4 0
3 years ago
Jada, Lin, and Elena are saving money for a trip. Together they saved $120. Jada saved $20 less than Lin. Lin saved 3 times as m
defon

Step-by-step explanation:

This is a word problem that we must translate to mathematical expression before we can solve.

let the individual saving be the first letters of the names

Jada= J

Lin= L

Elena= E

1. Jada saved $20 less than Lin

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2. Lin saved 3 times as much money as Elena

   L= 3E

3. Hence Elena saved

   E

Together they saved $120.

hence

(L-20)+3E+E= 120

L-20+3E+E= 120

collecting like terms we hav

L+4E=120+20

L+4E= 140

but we know that L= 3E

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divide both sides by 7 we have

E= 140/7

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L= 3*20

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this means that Lean saved $60

also  J=L-20

J= 60-20

J= $40

This means that Jada saved $40

6 0
3 years ago
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