1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
tiny-mole [99]
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?
Mathematics
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.)

You might be interested in
Use the properties of equality to find the value of x in this equation.<br><br> 4(6x – 7) = 44
son4ous [18]

Answer:

x=3

Step-by-step explanation:

4(6x-7) = 44

6x - 7 = 11

6x = 18

x= 3

4 0
3 years ago
X and y simplifying problem. Please explain how to do thiese. I will gove 15 points
Strike441 [17]

\dfrac 56 x + \dfrac25 y - \dfrac14 x + \dfrac3{10} y

First, combine like terms:

\left(\dfrac 56 - \dfrac14\right) x + \left(\dfrac25 + \dfrac3{10}\right)y

Now just simplify the coefficients of x and y. We do this by converting each pair of fractions to ones with a common denominator. Then we can combine them easily.

\dfrac56 - \dfrac14 = \dfrac56\cdot\dfrac22 - \dfrac14\cdot\dfrac33 = \dfrac{5\cdot2}{6\cdot2} - \dfrac{1\cdot3}{4\cdot3} = \dfrac{10}{12} - \dfrac3{12} = \dfrac{10-3}{12} = \dfrac7{12}

\dfrac25 + \dfrac3{10} = \dfrac25\cdot\dfrac22 + \dfrac3{10} = \dfrac{2\cdot2}{5\cdot2} + \dfrac3{10} = \dfrac4{10} + \dfrac3{10} = \dfrac{4+3}{10} = \dfrac7{10}

So the simplified expression would be

\dfrac7{12} x + \dfrac7{10} y

4 0
3 years ago
Translate this sentence into an equation. 76 is the product of Malik's savings and 4.Use the variable m to represent Malik's sav
jeyben [28]

Solution:

Let m represent Malik's savings

76 is the product of Malik's savings and 4. can be represented as

76 = 4 times m

76 = 4m

The answer is 76 = 4m

4 0
2 years ago
26 inches long is how many yards long
Irina-Kira [14]
Since there are 3 feet to a yard,26 feet= 26/3 yards =8 2/3 yards
5 0
4 years ago
25 times the sum of X and Y? and 8 more than the quotient of q and t?
Mkey [24]

Answer:

this hard

Step-by-step explanation:

8 0
3 years ago
Other questions:
  • Find the equation of the circle with center at (-1, -4) and radius of 2.
    15·1 answer
  • The ratio of pens to pencils in the box is 84 to 112. Which statement describes this relationship?
    7·2 answers
  • The answer to this plzzz
    5·1 answer
  •  Sandra sells necklaces at a school craft fair. She uses the equation P= 7.5n - (2.25n + 15) to determine her total profit at th
    6·1 answer
  • Sarah spent $25 at the craft store. She bought one book for $4 and 7 paint brushes for X dollars. Write an equation to describe
    8·1 answer
  • Find the slope of the line passing through the points (-6, 7) and (7, 7).<br> slope: 0
    15·1 answer
  • -x^2+2x-1 factor and please show work
    5·1 answer
  • The sum of two numbers is 59. The smaller number is 5 less than the larger number. What are the numbers?
    13·2 answers
  • What is the 20th term in the sequence f(n)=19-6×n for n≥0?
    5·1 answer
  • 4➗64<br> 4 divided by 64
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!