Solve for L: P = 2L + 2W
1 answer:
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Answer:
Step-by-step explanation:
For this case we can use the formula for the future value with compound interest given by:
(1)
For this case since the interest is compounded quarterly we have 3 periods each year, since we have 3 quarters in a year.
r represent the rate =0.026
t = 6 represent the number of years
P = 3200 represent the amount invested at the begin
If we apply the formula (1) we got:
So then the balance after 6 years would be approximately 50995 with the conditions provided.
Answer:
"She invested $2500 in 5% account and $5500 in 8% account"
Step-by-step explanation:
Let the amount invested in 5% account be "x"
So, the amount invested in 8% account would be "8000 - x"
Interest amount is the percentage multiplied by amount invested. So
Interest of 5% account = 5% of x = 0.05x
Interest of 8% account = 8 % of 8000 - x = 0.08(8000 - x)
Total interest is the sum of these 2 expressions that EQUATES to 565 (given). Let's solve for x:
and thus,
"8000 - x" = 8000 - 2500 = 5500
Hence,
She invested $2500 in 5% account and $5500 in 8% account