Sharla invests $275 in a simple interest bearing account for 16 years. The annual interest rate is 8%. Using the simple

Mathematics

2 answers:

lisov135 [29]3 years ago

6 0

Answer:

352

Step-by-step explanation:

I = PRT where P is the principle, I is the interest rate, T is the time

I = 275 ( .08) ( 16)

I = 352

Sunny_sXe [5.5K]3 years ago

6 0

Answer:

The interest is 352

Step-by-step explanation:

$\sf{}$

=> I = P×R×T .

=> I = 275 × 0.08×16

=> I = 352

You might be interested in

TON OF FREE POINTS FOR THE SMARTEST FINANCE PERSON! EASY PEASY, JUST NEED HELP TO DO IT THE RIGHT WAY ASAP!!! WHO SHALL WIN? Do

Vlada [557]

The problem can be represented by the the exponential growth formula which is :
$P(t) = A * r^{t}$
Where: t ⇒ time , A ⇒ initial amount , r ⇒ rate of increase
P(t) ⇒ predicted amount at the end of t.

For the given problem:
initial amount = A = $278,640
predicted increase in value per year = 4% =0.04

∴ r = 1 + 0.04 = 1.04

for t = 18 years

∴ $P(t) = A * r^{t} =278,640 * 1.04^{18}=\framebox{564,473.5}$ 
Rounding to the nearest dollar ⇒ ∴ P(t) = 564,474


So, the predicted value of David's home in 18 years = $564,474

So, The correct option is $564,474

5 0

3 years ago

Read 2 more answers

What is the measure of an angle if it is 660 less than 6 times its own supplement

otez555 [7]

Answer:

Step-by-step explanation:

Since this angle is unknown, let's just represent it with the variable "x". So the supplement angle of "x" is essentially, the value of the angle that we need to add to "x" to get 180. In other words let's just say that the supplement angle is "y". This means that: $x+y=180$ . If we subtract x from both sides we can represent "y" or the supplement angle as: $(180-x)$ .