Hakim deposited $50 in a saving account earning 10% interest, compounded annually . To the nearest cent , how much interest will
he earn in 2 years?
2 answers:
Answer:
$10.50
Step-by-step explanation:
(see attached for reference)
The formula for compound interest is:
A = P [1 + (r/n) ]^(nt)
where
A = Final amount
P = Principal = $50
r = Annual interest rate = 10% = 0.1
n = 1 (because compounded annually)
t = time = 2 years
substituting this into the equation:
A = P [1 + (r/n) ]^(nt)
= 50 [ 1 + (0.1/1) ] ^ [(1)(2)]
= 50 [ 1 + 0.1] ^ 2
= 50 (1.1)²
= $60.50
Interest = Final amount - Principal
=$60.50 - $50.00
= $10.50
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Step-by-step explanation:
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#4) From the reference angle of 58° we can see that we have the side opposite to that angle as well as the hypotenuse. Recall that sin=opp/hyp so we are going to use sine to find that side
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(multiply both sides by 19 to isolate x)
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(multiply both sides by 
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[tex] \frac{12}{tan(56)} = x
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19 sin(58°) = x (plug into calculator)
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#5) From the reference angle of 56°, we see that we have the adjacent and the opposite sides. Remember that tan=opp/adj so we will use tangent to find x
tan(56°) =
[tex] \frac{12}{tan(56)} = x
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