Please help!
1 answer:
Given Information:
Principle amount = P = $6,000
Interest rate = r = 4% = 0.04
Period in years = t = 5
Required Information:
How much interest will he earn in 5 years = ?
Answer:
Amount of interest = $1,299.92
Step-by-step explanation:
Using the formula given in the question,
Where B is the final amount, P is the initial amount, r is the interest rate and t is the number of years
The amount of interest earned is
Therefore, Quincy has earned $1,299.92 in terms of interest by investing $6,000 in a savings account at the rate of 4% annual interest for a period of 5 years.
You might be interested in
Given:
Dimensions of a tank are 50 cm by 32 cm by 20 cm
The tank is full of water and sand
Ratio of volume of water to the volume of sand is 5:1
To find:
Volume of water in the tank in liters
Solution:
Without loss of generality, let,
Length of tank = 50 cm
Breadth of tank = 32 cm
Height of tank = 20 cm
Then, we have,
Total Volume of the tank = Length * Breadth * Height
Total Volume = 50*32*20 cc
Total Volume = 32000 cc
It is given that,
Volume of water : Volume of sand = 5:1
(Volume of water)/(Volume of sand) = 5/1
Cross multiplying, we have,
Volume of sand = (Volume of water)/5
It is also given that the tank is full of water and sand. This implies that,
Volume of water + Volume of sand = Total Volume
Using the value, we obtained, we get,
Volume of water + (Volume of water)/5 = Total Volume
(6 * Volume of water)/5 = Total Volume
Plugging in the value of total volume, we get,
(6 * Volume of water)/5 = 32000 cc
Volume of water =
cc
Volume of water
26,666.6667 cc
We know that,
1 cc = 0.001 liters
26,666.6667 cc = (26666.6667 * 0.001) liters
26,666.6667 cc
26.667 liters
Thus, Volume of water in the tank is approximately 26.667 liters
Final Answer:
Volume of water in the tank (in liters) is approximately 26.667 liters
Answer:
Option D
Step-by-step explanation:
The equation to predict the amount saved is
Assuming that the variable x represents the saving months, then substitute in the quadratic equation and solve for y.
The answer is the option D $5,825