Answer:
$3960
Step-by-step explanation:
Given parameters:
Principal = $12,000
Simple interest = 8.25%
Time = 4yrs
Unknown:
Interest earned = ?
Solution:
To solve this problem, we have to use the simple interest formula shown below:
Simple interest =
P is the principal
R is the rate
T is the time
Now insert the parameters and solve;
Simple interest = = $3960
Given the scale is 1 cm to 25 km.
We have to find the length of the trail from centimeter to the nearest tenth of kilometer.
Let's take the length of the trail be x km.
The length of the trail given 7.2 cm. We will have to find the length in km.
We have to set it up as a proportion. So we can write the proportion as,
We have to cross multiply first. We will get,
So we have got the required length of the train in kilometer.
The actual length of the trail = 180km.
Answer: The balance in the account after 10 years is $3374.65
Step-by-step explanation:
The exponential equation for growth [ compounded continuously] is
, where P= Present value
r= growth rate ( in decimal)
t= time (years)
By considering the given information , we have
p=$2500 r = % =0.03 and t= 10
Substitute all the values in the above equation , we get
[Round to the nearest cent]
Therefore, the balance in the account after 10 years is $3374.65
