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Black_prince [1.1K]
3 years ago
5

Monica opens a savings account with an initial deposit of $500. She earns 3.6% compound interest each quarter. How much would th

e final balance of the savings account be after 5 years if Monica makes quarterly deposits of $50? Use an online calculator, then round your answer to the nearest whole number.
Mathematics
1 answer:
ExtremeBDS [4]3 years ago
7 0

Answer:

P =500, r = 0.036, t = 5 , n=4

n=4 because we have a quarterly rate

After replace the values given we got:

A =500 (1+\frac{0.036}{4})^{4*5} = 598.127

If we round this answer to the nearest number we got approximately $598 after 5 years.

Step-by-step explanation:

For this case we can ue the compund interest formula for the future value given by:

A = P(1 +\frac{r}{n})^{nt}

Where P represent the initial amount , t the number of years and r the rate of interest on fraction. The value of n represent the number of times that the interest rate is compound in a year

For our case we have:

P =500, r = 0.036, t = 5 , n=4

n=4 because we have a quarterly rate

After replace the values given we got:

A =500 (1+\frac{0.036}{4})^{4*5} = 598.127

If we round this answer to the nearest number we got approximately $598 after 5 years.

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Answer:

256

Step-by-step explanation:

so the basic problem is 192 divided by 3/4, so you flip the second fraction around. So the problem is now 192*4/3.

SIMPLIFY

192/3 is 64, and then you times 64 to 4, which equals 256

Hope it helped!

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3 years ago
A table decreased in price by 3/5.After the reduction it was priced at £32. What was the original
Stels [109]

Answer:

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Step-by-step explanation:

32x3=96

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3 years ago
Hi please help me as soon as possible:
sammy [17]

Answer:

Percentage = 14.2%

Step-by-step explanation:

<u>Given the following data;</u>

Cost of plane ticket = £588

Airport tax = $130

£1 = $1.34

To find the percentage of the total cost spent on airport tax;

First of all, we would convert the ticket cost in pounds (£) to dollars ($).

Cost of plane ticket = £588 to $ = 588 * 1.34 = $787. 92

Total cost = Cost of plane ticket + Airport tax

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Percentage  = 0.1416 * 100

<em>Percentage cost = 14.16 to 1 d.p = 14.2%</em>

<em>Therefore, the percentage of the total cost spent on airport tax by Rimo is 14.2 percent. </em>

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Answer:

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Step-by-step explanation:

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