Answer:
$1,105.08.
Step-by-step explanation:
Given that Alice invests $ 1000 at 2% interest compounded monthly over a 5 year period, assuming no other money is deposited or withdrawn, to determine what is the total amount of money in her account after 5 years, the following calculation must be performed:
X = 1,000 (1 + 0.02 / 12) ^ 5x12
X = 1,105.08
Thus, the amount of money in her account after 5 years would be $ 1,105.08.
Answer:
y = 1/2x+4
Step-by-step explanation:
First we find the slope
m = (y2-y1)/(x2-x1)
= (3-6)/(-2-4)
= -3/-6
=1/2
The equation of a line in slope intercept form is
y = mx+b where m is the slope and b is the y intercept
y =1/2x+b
Substitute one of the point into the equation
6 = 1/2(4) +b
6 = 2+b
b=4
y = 1/2x+4
Because u might need it in the real world.
Answer: $2294 should be invested in the simple interest account while $4588 should be invested in the certificate of deposit.
Step-by-step explanation:
Let x represent the amount that he would deposit in the simple interest account.
Let y represent the amount that he would deposit in the certificate of deposit.
she will deposit twice as much in the certificate of deposit. It means that
y = 2x
Interest from the simple interest account would be 7%. This mean that the interest would be 7/100 × x = $0.07x
Interest from the certificate of deposit account would be 5%. This mean that the interest would be 5/100 × y = $0.05y.
The total interest from both accounts would be $390. It means that
0.07x + 0.05y = 390- - - - - - - - - - 1
Substituting y = 2x into equation 1, it becomes
0.07x + 0.05 × 2x = 390
0.07x + 0.1x = 390
0.17x = 390
x = 390/0.17 = $2294
y = 2x = 2 × 2294
y = 4588
Answer:10%
Step-by-step explanation:
