Answer:
At the end of 3 years, we could save upto $ 2975.4 with an interest rate of 3.3 %
Step-by-step explanation:
If we are putting $ 2700 into our IRA ( individual Retirement Account) for 3 years and we are earning 3.3% profit every year, we need to find the total amount saved at the end of 3 years.
Since the interest is calculated for more than 1 year, this is an example of compound interest.
The formula used is:
where FV = future value
P= Principal amount of money deposited
r= annual interest rate ( in decimal form)
n= number of times interest rate is compounded (yearly)
t= time period
So for our given guestion:
P= $2,700
r = 3.3 % = 0.033
n= 1
t= 3
putting our values in the formula
So, at the end of 3 years, we could save upto $ 2975.4 with an interest rate of 3.3 %
that's very interesting!! is there more to your question that we can answer?
Any number that can be writen as a fraction example: 0.75, -15, 0, 9
Answer:
One rose bush costs $6
One pot of ivy costs $5
Step-by-step explanation:
Set up an equation:
Variable x = cost of rose bushes
Variable y = cost of pots of ivy
3x + 3y = 33
12x + 4y = 92
I will use substitution to first solve for x:
3y = 33 - 3x
Divide both sides by 3
y = 11 - x
Substitute y value for 11 - x:
12x + 4(11 - x) = 92
Use distributive property
12x + 44 - 4x = 92
Combine like terms
8x + 44 = 92
8x = 48
Divide both sides by 8
x = 6
Solve for y by plugging in 6 for the x value:
3(6) + 3y = 33
18 + 3y = 33
3y = 15
Divide both sides by 3
y = 5
Check work:
3(6) + 3(5) = 33
18 + 15 = 33
33 = 33
Correct
Answer:
width: 8.5
length: 4
Step-by-step explanation:
width: x
length: 2x - 13
area = length * width
34 = (2x - 13)x
34 = 2x² - 13x
2x² - 13x - 34 = 0
(2x - 17)(x + 2) = 0
2x - 17 = 0
2x = 17
x = 8.5
x + 2 = 0
x = -2 width cannot be negative so discard this
width: x = 8.5
length: 2x - 13 = 2(8.5) - 13 = 4