Please answer I need help

Madeline received $300 for her birthday. She deposits it into a savings account with an interest rate of 2.45%. She makes monthl

oee [108]

Answer:

b. $1,587.57

Step-by-step explanation:

A financial calculator will tell you the value of Madeline's account after 8 years will be $16,287.57. In that time, she will have deposited ...

$300 +96×150 = $14,700

The interest earned is the difference between her account balance and the amount she deposited:

$16,287.57 -14,700 = $1,587.57 . . . interest earned

_____

<em>Account value calculation</em>

The future value of the initial $300 deposit after 8 years is ...

A = P(1 +r/n)^(nt)

for principal P earning annual rate r compounded n times per year for t years.

A = $300(1 +0.0245/12)^(12·8) ≈ $364.89

The future value of the sum of $150 deposits monthly (at the beginning of the month) will be ...

A = $150((1+r/n)^(nt) -1)(1 +n/r) = $15,922.68

So, the total value of Madeline's account in 8 years is ...

$364.89 +15,922.68 = $16,287.57

_____

<em>Comment on account value</em>

In problems of this nature, it is always necessary to determine when the deposits are made relative to when the account value is measured. Here, we assume the $300 deposit is immediate, and its value is measured 8 years hence.

The monthly deposits are not described in that detail. In order to get any of the numbers in the answer list, we need to assume the deposits are at the beginning of the month. If we assume they are at the end of the month, the amount of interest is reduced by about $33.18, the last month's interest.

7 0

3 years ago

Melanie spent $40 in 4 hours while shopping at the mall. How much money has changed hands? A) $10 B) $40 C) -$10 D) -$40

S_A_V [24]

I actually think its b cause it can't be d (thats obvious) yh........but i might be wrong

4 0

3 years ago

15. Which expression can go in the blank to make the equation true?

topjm [15]

The answer is A
-6.9+6.8 is equal to -0.1, and -5.4+5.5 is 0.1. If you add those two together, you get zero.

6 0

3 years ago

Factor the expression using the GCF. 18-12

rodikova [14]

Answer:

6(3-2)

Step-by-step explanation:

Find the GCF of both numbers. The GCF is 6. Write it as 6( - )

Then, divide both numbers by 6. 18 divided by 6 is 3 and 12 divided by 6 is 2. Fill in the blanks with 3 and 2. A=6(3-2)

7 0

3 years ago

Joy is making a fruit salad. For every 2 cups of blueberries that Joy uses in the fruit salad, she uses 3 cups of strawberries.

Igoryamba

Joy will need to use 9 cups of strawberries for 6 cups of blueberries.

Step-by-step explanation:

Given,

Cups of blueberries used for 3 cups of strawberry = 2

Ratio of cups of blueberry to strawberry = 2:3

Joy wants to use 6 cups of blueberries.

Let,

x be the cups of strawberry for 6 cups of blueberries.

Ratio of cups of blueberries to strawberries = 6:x

Using proportion;

Ratio of cups of blueberry to strawberry :: Ratio of cups of blueberries to strawberries

$2:3::6:x$

Product of extreme = Product of mean

$2*x=3*6\\2x=18$

Dividing both sides by 2

$\frac{2x}{2}=\frac{18}{2}\\x=9$

Joy will need to use 9 cups of strawberries for 6 cups of blueberries.

Keywords: ratio, proportion, division

Learn more about division at:

#LearnwithBrainly

7 0

3 years ago