Answer:
Principal = 3500
Time = 8 years
We are given that compound quarterly
So, No. of compounds per year = 2
Rate of interest = 5%
Formula :
Substitute the values :
Interest = 3863.345 - 3500 = 363.345
Hence the total amount in an investment of $3500 that was compounded quarterly for 8 years at a rate of 5% is $3863.345 and the interest that was made on that account mentioned is $363.345
Answer:
Step-by-step explanation:
We have a circle that is split in three sections, two of which we know and we are asked to find the third missing section.
For the circle, we know that 4/5 and 1/10 is fit. Now we need the last one, to solve, we need to get the same denominator and see how much is missing.
Since 1/10 is our highest denominator, let's change 4/5 to have 10 as a denominator. Which would be through multiplying 5 to get 10.
What times 5 equals 10?
2
Now multiply both numerator and denominator by 2 to get our portion.
Now we have the same denominator, let's add our two fractions and see how much we have left.
8/10 + 1/10
9/10
We have 1/10 missing, therefore 1/10 is the answer.