We are given the following information
Investment = $5200
Annual interest rate = 4.2% = 0.042
Final amount = $16,500
Number of years = 27.7 years
Number of compoudings = quartely = 4
The student uses the following model
The general formula for compound interest is given by
As you can see, the number of compoundings is incorrect (3 vs 4)
The interest rate is also incorrect.
Let us substitute the given values into the above formula
Therefore, the final amount is approximately $16,543.5
Since she spent $9.72 and deposited $9.72 her bank balance did not change at all. She basically paid off how much she spent on lunch on Wednesday.
Answer:
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Step-by-step explanation:
Answer:
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Step-by-step explanation:
Answer:
5 ≥ 9*.15 + x*.25
He can buy up to 14 candies
Step-by-step explanation:
Total money ≥number of peppermints * cost per peppermint + number of sour candies * cost per sour candy
We know he has 5 dollars. He bought 5 peppermints at $.15 cents each and x sour candies at $.25 each
Substituting in
5 ≥ 9*.15 + x*.25
5≥1.35 + .25x
Subtract 1.35 on each side
5-1.35 ≥ 1.35-1.35+.25x
3.65≥.25x
Divide by .25 on each side
3.65/.25 ≥ .25x/.25
14.6 ≥ x
He can buy up to 14 candies. You can't buy part of a candy
