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Fed [463]
3 years ago
15

What would my final balance be if I put $650 in the bank for 60 months with an interest rate of 6%?

Mathematics
1 answer:
Helen [10]3 years ago
5 0
It depends on the terms of the account.

If interest is compounded annually, 650*1.06^5 ≈ 869.85 . . . . dollars.
If interest is compounded quarterly, 650*1.015^20 ≈ 875.46 . . dollars.
If interest is compounded monthly, 650*1.005^60 ≈ 876.75 . . .dollars.
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Does anyone know what the term to this would be?
EastWind [94]

Answer:

  AA similarity theorem

Step-by-step explanation:

You are given that two angles are congruent, so the appropriate choice is ...

  AA similarity theorem

__

Triangle similarity is shown by demonstrating that all three sides are proportional, or that two angles match (meaning the third one must also match). These methods would be abbreviated SSS (3 Sides) and AA (2 Angles), respectively. Since your problem statement involves angles and similarity, the choice is clear.

8 0
3 years ago
7100 dollars is placed in an account with an annual interest rate of 5%. To the nearest tenth of a year, how long will it take f
kow [346]

Answer:

After 26.91\ years the principle amount value will reach to 26400\ dollars.

Step-by-step explanation:

Given that,

                 Principle Amount (P)= 7100\ dollars

                 Rate of Interest (R)= 5%

                 Total Amount (A)= 26400\ dollars

If Principle Amount (P) =P\ dollars, Time =t\ years, Rate of Interest =R% pa

when interest is compounded annually:

Total Amount after t\ years = P(1+\frac{R}{100}) ^{t}

Now,

         A= P(1+\frac{R}{100}) ^{t}

     ⇒ 26400=7100(1+\frac{5}{100}) ^{t}

     ⇒ 3.7183=(1+0.05)^{t}

     ⇒ 3.7183=(1.05)^{t}

taking log both sides, we get

         ln(3.7183)=ln {(1.05)^{t}}

     ⇒ 1.31327=t\times ln(1.05)

     ⇒ 1.31327=t\times 0.04879

    ⇒ t=26.91

Therefore,

After 26.91\ years the principle amount value will reach to 26400\ dollars.

6 0
4 years ago
Read 2 more answers
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malfutka [58]
15 divide 30 by 2 and you have your answer

4 0
3 years ago
I will give the BRAINEST
Drupady [299]

Answer:

we don't have any clue about g, it is impossible

6 0
3 years ago
What is the slope of the line that passes through the points (0,6) and (4,-1)
wlad13 [49]
To find the slope between the points, you would go through this process
(-1-6)/(4-0)
And we get
(-7)/4
Aka
-(7/4) which is our slope
3 0
3 years ago
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