1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
seraphim [82]
3 years ago
11

Please help!

Mathematics
1 answer:
lana [24]3 years ago
6 0

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,

B = P(1 + r )^{t}

Where B is the final amount, P is the initial amount, r is the interest rate and t is the number of years

B = P(1 + r )^{t}\\\\B = 6,000(1 +  0.04)^{5}\\\\B = 7,299.92

The amount of interest earned is

Amount \:of\: interest = B - P \\\\Amount \:of \:interest = 7,299.92 - 6,000\\\\Amount \:of \:interest = 1,299.92

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
What number has 7 ones, 3 fewer thousands than ones, 5 fewer hundred thousands than ones, 2 more tens than hundred thousands, 2
Harman [31]

Answer:

Step by step below

Step-by-step explanation:

0 000 007

0 004  007

0 204 007

0 204  047

0 204  647

0 224 647

<u>4 224 647 </u>

5 0
2 years ago
When is a protractor preferred to a ruler when finding a measurement
Keith_Richards [23]
When measuring an angle.
7 0
3 years ago
A system of equations has no solution. If y = 8x + 7 is one of the equations, which could be the other equation? 2y = 16x +14 y
Juliette [100K]

Answer:

I think its y=8x-7

Step-by-step explanation:

Pls tell me if i'm wrong.

5 0
2 years ago
Read 2 more answers
Y - 2/5 = 1 3/5 (plz show work)
Brums [2.3K]

Answer:

y=2

Step-by-step explanation:

that's the answer hope u understand it

7 0
2 years ago
Read 2 more answers
The box plot below represents some data set. What percentage of the data values are less than 61?
GenaCL600 [577]

Answer:

25%

Step-by-step explanation:

plato

6 0
2 years ago
Read 2 more answers
Other questions:
  • This question is that I need help with is "Finding angle measures between intersecting lines"​
    5·1 answer
  • 7/8 teaspoons is 1/4 groups of what size
    6·1 answer
  • Find the value of x and the value of y.
    15·1 answer
  • Which postulate or theorem proves that these two triangles are congruent?
    11·2 answers
  • What is the answer to<br> -2a-9=6a+15
    12·2 answers
  • Are all imaginary numbers like terms
    15·1 answer
  • Bonita drove 8 miles from her home to the library, and then drove back.
    14·2 answers
  • The high temperature in Fairbanks, Alaska was 15.7 degrees. That night it fell 38.4 degrees. The next morning, it rose 12.2 degr
    12·1 answer
  • 6x1/4= ? (fractions)<br><br> 3x2/3 = ?
    6·2 answers
  • (1/2a - 2/3b) ( 3/5a + 2/3b) multiply the following ​
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!