Answer:
133.33
Step-by-step explanation:
Answers:
- interest = $75
- balance at maturity = $3075
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Explanation:
The simple interest formula is
i = p*r*t
where in this case,
- p = 3000 = principal (amount deposited)
- r = 0.10 = annual interest rate in decimal form
- t = 3/12 = 0.25 = number of years
So,
i = p*r*t
i = 3000*0.10*0.25
i = 75 is the amount of interest earned
This adds onto the initial deposit to get the final balance when the CD matures (ie when you're able to withdraw the money without penalties)
The balance at maturity is p+i = 3000+75 = 3075 dollars
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In short, you deposit $3000 into the CD and have to wait 3 months for the amount to update to $3075.
Answer:
Rex earns $250 in interest after 2 years.
Step-by-step explanation:
Answer:
The system has infinitely solutions
Step-by-step explanation:
we have


Multiply by 3 both sides
----> equation A
The equation A is a circle centered at origin with radius 
and


Divide by 5 both sides
----> equation B
The equation B is a circle centered at origin with radius 
Equation A and Equation B are the same
Therefore
The system has infinitely solutions