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3 years ago

12

In 2 years, Duncan wants to buy a bicycle that costs $400.00. If he opens a savings account that earns 11% interest compounded a

nnually, how much will he have to deposit as principal to have enough money in 2 years to buy the bike?

1 answer:

ki77a [65]3 years ago

3 0

Answer:

Current deposit amount = $324.65 (Approx.)

Step-by-step explanation:

Given:

Cost of bicycle = $400

Future amount = $400

Rate of interest = 11% = 0.11

Number of year = 2 year

Find:

Current deposit amount

Computation:

Compound interest formula

A = P[1+r]ⁿ

Future amount = Current deposit[1+Rate of interest]ⁿ

400 = Current deposit[1+0.11]²

400 = Current deposit[1.11]²

400 = Current deposit[1.2321]

Current deposit amount = 400 /1.2321

Current deposit amount = $324.65 (Approx.)

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A piece of cardboard has the dimensions (x + 15) inches by (x) inches with the area of 60 in 2 . Write the quadratic equation th

pochemuha

Answer:

$x^2 + 15x - 60 = 0$

The actual dimension is 18.28 by 3.28

Step-by-step explanation:

Given

Dimension:

$(x + 15)\ by\ x$

$Area = 60in^2$

Required

Determine the quadratic equation and get the possible values of x

Solving (a): Quadratic Equation.

The cardboard is rectangular in shape.

Hence, Area is calculated as thus:

$Area = Length * Width$

$60= (x + 15) * x$

Open Bracket

$60= x^2 + 15x$

Subtract 60 from both sides

$x^2 + 15x - 60 = 0$

<em>Hence, the above represents the quadratic equation</em>

Solving (b): The actual dimension

First, we need to solve for x

This can be solved using quadratic formula:

$x = \frac{-b \± \sqrt{b^2 - 4ac}}{2a}$

Where

$a = 1$

$b = 15$

$c = -60$

So:

$x = \frac{-b \± \sqrt{b^2 - 4ac}}{2a}$

$x = \frac{-15 \± \sqrt{15^2 - 4*1*-60}}{2*1}$

$x = \frac{-15 \± \sqrt{225 + 240}}{2}$

$x = \frac{-15 \± \sqrt{465}}{2}$

$x = \frac{-15 \± \21.56}{2}$

Split:

$x = \frac{-15 + 21.56}{2}$ or $x = \frac{-15 - 21.56}{2}$

$x = \frac{6.56}{2}$ or $x = \frac{-36.36}{2}$

$x = 3.28$ or $x = -18.18$

But length can't be negative;

So:

$x = 3.28$

The actual dimensions: $(x + 15)\ by\ x$ is

$Length =3.28 +15$

$Length =18.28$

$Width = x$

$Width =3.28$

<em>The actual dimension is 18.28 by 3.28</em>

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3 years ago