Answer: $4,365.10
Step-by-step explanation:
Ok, we know that:
The account starts with $2350
There is a simple interest of 3.75% (or 0.035).
Then after one year, the amount in the account will increase by 3.75%, this means that the amount will be:
$2350 + 0.035*$2350 = (1.035)*$2350.
After another year, we have the same increase (but applied to the new amount in the account):
(1.035)*$2350 + 0.035*(1.035)*$2350. = (1.035)^2*$2350
And so on.
You already can see the pattern here, the amount of money in the saving account after N years will be:
M(N) = $2350*(1.035)^N.
Now we can answer:
what is the balance of the account if it earns a simple interest of 3.75% for 18 years?
Just replace N by 18 in that equation:
M(18) = $2350*(1.035)^18 = $4,365.10
0.7/1 of a wall per person
Answer:
0.01190476, but since you have to round to the nearest hundredth your answer should be 0.01
Step-by-step explanation:
Answer:
B. 840
Step-by-step explanation:
21 is 70% of 30 and 70% of 1,200 is 840.
Answer:
8 tickets
Step-by-step explanation:
To find how many tickets he bought, we can divide.
66 / 8.25 = 8
Best of Luck!