All categories

3 years ago

Find the interest earned: $26,000 for 36 months at 7.5% annual compound interest

Mathematics

1 answer:

stich3 [128]3 years ago

7 0

Answer:

Interest = $6,300 (Approx.)

Step-by-step explanation:

Given:

Amount deposit (P) = $26,000

Number of month = 36 month

Number of year (n) = 36 / 12 = 3 year

Rate of interest (r) = 7.5% = 0.075

Find:

Interest earned

Computation:

Interest = p[(1+r)ⁿ-1]

Interest = 26,000[(1+0.075)³-1]

Interest = 26,000[(1.075)³-1]

Interest = 6,299.71

Interest = $6,300 (Approx.)

You might be interested in

a 4inch wide by 6inch long picture is placed on a solid mat that forms a frame around it. the mat is 8 inches long. the mat and

gulaghasi [49]

The area of the mat is 42.67 inches^2 or 42 and 2/3 in^2

7 0

3 years ago

The Raitio of 20:360

GuDViN [60]

Answer:

If you need it as a fraction then it is 1/18

Step-by-step explanation:

8 0

2 years ago

I need help with this pls

Naddik [55]

Answer:

Im looking for this answer to lol

Step-by-step explanation:

3 0

3 years ago

Simplify this equation Thanks a lot!!!

den301095 [7]

Answer:

-1

Step-by-step explanation:

We need to simplify the given expression . The given expression is ,

$\rm\implies ( 2 \sqrt6 +5)^{2n-1} ( 2\sqrt6 - 5)^{2n-1}$

Here we can see that the power of the both exponent is same that is (2n+1) . Recall the property of exponents ,

$\bf\implies a^m \times b^m = (ab)^m$

Using this property , we have ,

$\rm\implies ( 2 \sqrt6 +5)^{2n-1} ( 2\sqrt6 - 5)^{2n-1}$

This can be written as ,

$\rm\implies\{( 2 \sqrt6 +5) ( 2\sqrt6 - 5)\}^{2n-1}$

Simplifying using ( a+b)(a-b) = a² - b² ,

$\rm\implies\{( 2 \sqrt6)^2 -5^2 \}^{2n-1}\\\\\rm\implies ( 24 - 25)^{2n-1}$

Subtracting the numbers inside the brackets ,

$\rm\implies (-1)^{2n - 1 }$

Now we know that every odd number is in the form of 2n -1 , where n is any integer. Therefore , the power is odd .

Since the base is (-1) , for even power it is 1 and for odd power it is -1 . Therefore the final answer is ,

$\rm\implies\boxed{\quad \red{ -1 }\quad }$

Hence the required answer is (-1) .

4 0

3 years ago

Ms. Barclay orders birthday cupcakes for the month of June from an online vendor. Each cupcake costs $1.25 and there is a one-ti

artcher [175]

Answer:

Ms. Barclay ordered 9 cupcakes.

Step-by-step explanation:

$1.25x9=11.25

11.25+3.25=$14.50

8 0

3 years ago