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3 years ago

What is the compound interest on investing $600 for 3 years at 7% per annum?

Mathematics

1 answer:

Marysya12 [62]3 years ago

5 0

Answer:

About $735.03

Step-by-step explanation:

The compound interest formula is A=P(1+r/n)^nt

P is the original amount (principal)

r is the rate

n is the number of times compounded (1 for this one since it is annual)

and t is the time compounded

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3 years ago

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Vlada [557]

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1) B and C

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2 years ago

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Vitek1552 [10]

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1. $33.00

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Step-by-step explanation:

44.00 - 25% = 33 —> $33.00

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2 years ago

Jackson’s age was 2/5 of the age he will be 20 years from now 7 years ago. How old is Jackson now?

bonufazy [111]

<h3>The present age of Jackson is 25 years old</h3>

<em><u>Solution:</u></em>

Let the present age of Jackson be "x"

Therefore

Jackson's age 7 years ago = x - 7

And, Jackson's age after 20 years = x + 20

From given question,

Jackson’s age was 2/5 of the age he will be 20 years from now 7 years ago

$\frac{2}{5} \times (x + 20) = x - 7\\\\2(x + 20) = 5(x - 7)\\\\2x + 40 = 5x - 35\\\\5x - 2x = 40 +35\\\\3x = 75\\\\Divide\ both\ sides\ by\ 3\\\\x = 25$

Thus present age of Jackson is 25 years old

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2 years ago

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2 years ago

What is the compound interest on investing $600 for 3 years at 7% per annum? ​

What is the compound interest on investing $600 for 3 years at 7% per annum?