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raketka [301]
3 years ago
13

Nathaniel invests money in an account paying a simple interest of 6% per year. If he invests $90 and no money will be added or r

emoved from the investment, how much will he have in one year, in dollars and cents?
Mathematics
1 answer:
Gelneren [198K]3 years ago
8 0

Answer:

95.40 total and 5.40 in intreset

Step-by-step explanation:

Answer:

A = $95.40

I = A - P = $5.40

Equation:

A = P(1 + rt)

Calculation:

First, converting R percent to r a decimal

r = R/100 = 6%/100 = 0.06 per year.

Solving our equation:

A = 90(1 + (0.06 × 1)) = 95.4

A = $95.40

The total amount accrued, principal plus interest, from simple interest on a principal of $90.00 at a rate of 6% per year for 1 years is $95.40.

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Step-by-step explanation:

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_____

<em>Alternate solution</em>

Draw a diagonal line between the lower right inside corner and the lower right outside corner. This divides the figure into two trapezoids.

The trapezoid at lower left has bases 7 and 4 cm, and height 6-4 = 2 cm. Its area is ...

  A = (1/2)(b1 +b2)h = (1/2)(7 + 4)(2) = 11 . . . . cm²

The trapezoid at upper right has bases 6 cm and 4 cm and height 3 cm. Its area is ...

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Then the area of the figure is the sum of the areas of these trapezoids, so is ...

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_____

<em>Comment on other alternate solutions</em>

There are many other ways you can find the area of this figure. It can be divided into rectangles, triangles, or other figures of your choice. The appropriate area formulas should be used, and the resulting partial areas added or subtracted as required.

You can also let a geometry program find the area for you. (It is 26 cm².)

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