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Sliva [168]
3 years ago
5

Edgar accumulated $4,000 in credit card debt. If the interest rate is 30% per year, and he does not make any payments for 2 year

s, how much will he owe (in dollars) on this debt in 2 years by each method of compounding? (Simplify your answers completely. Round your answers to the nearest cent.)
Mathematics
1 answer:
never [62]3 years ago
7 0

Answer:

$7,459.12

Step-by-step explanation:

The formula for continuous compounding is

A = Pe^(rt), where P is the original amount, A is the accumulated amount, r is the interest rate as a decimal fraction, and t is the number of years.  We want to know how much he will owe on this original $5,000 credit card debt after 2 years.

A = $5,000e^(0.20*2)

  = $7,459.12

Step-by-step explanation:

hope this helps

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Lilly owes $52,000 in student loans for college. If the loan will be repaid in 5.5 years and the interest rate charged is 6.75%,
vesna_86 [32]

Answer:

55510

Step-by-step explanation:

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a boat can travel 30 miles upstream in the same amount of time you can travel 50 miles Downstream. If the speed of the current i
almond37 [142]
Speed, S = Distance (d) / Time (t) => S= d/t => t= d/S

Let the speed of boat in still water be x mph

Resulting speed upstream = x-4 mph for a distance of 30 miles
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Therefore,

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3 years ago
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Evaluate m3 + n3 for m = 3, n = 2.<br> O A. 8<br> O B. 27<br> O C. 35<br> O D. 15
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3 0
3 years ago
Fred has 230 animals at his zoo. Grace at 349 more animals in her zoo than Fred has. how many animals do they have altogether? T
WARRIOR [948]

Step-by-step explanation:

okay so im in 8th grade and i just worked the problem out and i got , 809 ,

first you add 230 + 349 to see how much she has in her farm

she has 579, then you add 579 because she has that many , and he has 230 so you add 579 +230 and tou get 809

work:

230

+349

----------

579

+230

---------

809

hope i helped!!

4 0
3 years ago
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