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gregori [183]
3 years ago
15

Luke puts $200 into his account to use for school expenses. The account earns 2% interest, compounded annually. How much will be

in the account after 7 years?
Mathematics
2 answers:
Tcecarenko [31]3 years ago
7 0

Answer:

number of planning look foot equal to 200 in h8s account you should use compound formula ok

Zigmanuir [339]3 years ago
7 0

Answer: $230 will be in the account after 7 years.

Step-by-step explanation:

We would apply the formula for determining compound interest which is expressed as

A = P(1+r/n)^nt

Where

A = total amount in the account at the end of t years

r represents the interest rate.

n represents the periodic interval at which it was compounded.

P represents the principal or initial amount deposited

From the information given,

P = 200

r = 2% = 2/100 = 0.02

n = 1 because it is compounded once in a year.

t = 7 years

Therefore,.

A = 200(1+0.02/1)^1 × 7

A = 200(1.02)^7

A = $230

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Answer:

Watson's garden shop has the better deal on the lawn mower.

Hope this helped :)

Step-by-step explanation:

Watson's $130 - 50% = $65

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4 0
3 years ago
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Vesnalui [34]

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6 0
3 years ago
Nora invested $1,500 in a bond at a simple interest rate of 3%. How much will the bond be worth in total after 10 years?
attashe74 [19]
<h2>The bond will be worth in total after 10 years is =$1,950</h2>

Step-by-step explanation:

Given,

Nora invested $1,500 in at a bond simple interest rate of 3%

here P= $1500 R= 3% and t = 10year

Simple interest(I) = \frac{P\times R \times t }{100}

                           =$ \frac{1500\times 3 \times 10}{100}

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pantera1 [17]
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4m = 12

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