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Mathematics

1 answer:

Amiraneli [1.4K]3 years ago

3 0

Answer:

54$

Step-by-step explanation:

If 6% per year for 3 years, we can do 6 x 3 = 18 to find the total interest percent over all the years. Then we can do 18% of 300 = 54 Therefore, you will gain 54$ of simple in three years.

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Serena has $130 in her bank account . Her account is compounded quarterly for 2 years at a 9.4% interest rate . What is her tota

____ [38]

$\bf ~~~~~~ \textit{Compound Interest Earned Amount}
\\\\
A=P\left(1+\frac{r}{n}\right)^{nt}
\quad 
\begin{cases}
A=\textit{accumulated amount}\\
P=\textit{original amount deposited}\to &\$130\\
r=rate\to 9.4\%\to \frac{9.4}{100}\to &0.094\\
n=
\begin{array}{llll}
\textit{times it compounds per year}\\
\textit{quarterly, thus four}
\end{array}\to &4\\
t=years\to &2
\end{cases}
\\\\\\
A=130\left(1+\frac{0.094}{4}\right)^{4\cdot 2}\implies A=130(1.0235)^8$