Asia Desai deposited $6,000 in a savings account that pays 5.5% interest compounded daily. How much interest did she earn in 21
days?
2 answers:
21 days = 21/365 years =
<span>
<span>
<span>
0.0575342466
</span>
</span>
</span>
years
n = compounding periods per year = 365
Total = Principal * (1 + rate/n)^n*years
Total = $6,000 * (1+ (.055/365))^365*0.0575342466
Total = $6,000 * (1+ <span> <span> <span> 0.0001506849 </span> </span> </span> )^21
<span><span><span>Total = $6,000 * 1.00316915570 </span> </span> </span>
Total = <span> <span> <span> $6,019.01</span></span></span>
<span><span><span /></span></span>
n = compounding periods per year = 365
Total = Principal * (1 + rate/n)^n*years
Total = $6,000 * (1+ (.055/365))^365*0.0575342466
Total = $6,000 * (1+ <span> <span> <span> 0.0001506849 </span> </span> </span> )^21
<span><span><span>Total = $6,000 * 1.00316915570 </span> </span> </span>
Total = <span> <span> <span> $6,019.01</span></span></span>
<span><span><span /></span></span>
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<u>Answer:</u>
Nickels = 44.6
Dimes = 3.4
<u>Step-by-step explanation:</u>
We know that Jessica has 48 coins of which some are nickels and some are dimes so we can write it as:
n = amount of nickels
d = amount of dimes
--- (1)
We are to find the number of nickels and dimes if their total worth is $3.25.
Since a dime is worth 10¢ and a nickel is 5¢, so it should be:
--- (2)
From (1):
Substituting this value of in (2) to get:
Finding by substituting the value of
: