If a water tank already contains 55 gallons of water when baxter begins to fill it and water is flowing in at a rate of 8 gallon
1 answer:
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Answer:
$53750
Step-by-step explanation:
Sam deposit $12500 every year which grows at a simple interest of 3% and we have to calculate the total sum after 4 years.
If Sam deposit $x with r% simple interest then the principal will grow after 4 years to
Again, for the second year $x investment with r% simple interest will grow to .
Now, the third year $x investment with r% simple interest will grow to
And finally the fourth year $x investment with r% simple interest will grow to
Therefore, the total sum becomes
=
=
So, in case of Sam the sum will be = = $53750