All categories

3 years ago

Erik deposited $3,000 into a savings account that earns 5% simple Interest.

Mathematics

2 answers:

ale4655 [162]3 years ago

5 0

Answer:

3450 because 5 percent of 3000 Is 150

trapecia [35]3 years ago

5 0

Answer:

Hey, the answer is 15.375

Step-by-step explanation:

UsiNg PRT/100, the simple interest of the sum of 3000 naira invested for 3yrs at 5% per annum is 450.

Meanwhile, the first year of the compound interest, the interest generated was 150

second year 157.5

and lastly, third year 157.875

Total interest = 465.375

465.375 - 450 = 15.375

You might be interested in

Many credit card companies charge a compound interest rate of 1.8% per month on a credit card balance. Miriam owes $650 on a cre

Sauron [17]

Answer:

<u>The correct answer is D. 650.oo, 661.70, 673.61, 685.74, 698.08</u>

Step-by-step explanation:

1. Let's review the information given to us to answer the question correctly:

Compound interest rate charged by Miriam's credit card company = 1.8% monthly

2. If she makes no purchases or payments, she will go more and more in debt. Which of the following sequences describes her increasing monthly balance?

Miriam's current credit card balance = US$ 650

Miriam's credit card balance in one month = 650 * 1.018

Miriam's credit card balance in one month = 661.70

Miriam's credit card balance in two months = 661.70 * 1.018

Miriam's credit card balance in two months = 673.61

Miriam's credit card balance in three months = 673.61 * 1.018

Miriam's credit card balance in three months = 685.74

Miriam's credit card balance in four months = 685.74 * 1.018

Miriam's credit card balance in four months = 698.08

<u>The correct answer is D. 650.oo, 661.70, 673.61, 685.74, 698.08</u>

6 0

3 years ago

On one day in January, the temperature in Milwaukee, Wisconsin fell 12°F from the high temperature to a low temperature of -8°F.

tatiyna

Answer:

t = 4

Step-by-step explanation:

you have -8 and twelve you equation is x -12 = -8 so we just have to flip the equation around to make it x = 12 -8 which is easy . You just have to make sure you don't get mixed up while flipping the signs.

5 0

3 years ago

Read 2 more answers

A geography teacher shares 18 maps equally between 8 students. The number of maps that each student gets lies between what two w

Serga [27]

I believe it is 2 and 3.

8 0

3 years ago

Whats half of 70.00 dollars

Liono4ka [1.6K]

Half of 70.00 dollars

To Find the HALF of something, Divide the number by 2