The compound interest is applied to the remaining balance in the account
each subsequent year.
- The amount that must be deposited is approximately <u>$620.07</u>
Reasons:
The given compound interest rate, r = 6.25% = 0.0625
The balance in the account after 2 years, A = $700
Required:
The required deposit, <em>P</em>, that gives the given account balance after 2 years.
Solution:
The following is the compound interest formula to use;
Where;
t = 2 years
We get;
Which gives;
- The amount that must be deposited to give $700 after 2 years is P ≈ <u>$620.07</u>
Learn more about compound interest here:
brainly.com/question/10028292
The answer still have x unless you have x value to substitute with
Answer:
31 raffle tickets
Step-by-step explanation:
23.25 divided by 0.75 = 31
Answer:
I and II only
Step-by-step explanation:
plug in the x and y
Answer:
At first instance, they can eat 3 SMALL pizzas together, while the total number of pizzas they can eat if there are subsequent instances is
3 × (Number of instance)
Step-by-step explanation:
Here, we have a word math problem, with Joey and his 2 friends who can eat the same amount as him
That is if the amount Joey can eat is x then each of his two friends can eat x hence total amount Joey and the two friends can eat is
x + 2x = 3x,
Where x is an number eaten per person at an instant
Therefore, if they decide to order all SMALL pizzas, the number of pizzas they can eat at the first instant is 3 × 1 = 3 SMALL pizzas
at subsequent instance, the number of pizzas eaten in total is 3·x pizzas.
