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3 years ago

$425 is invested into an account that earns 6% compounded monthly. Find how much the account is worth in 15 years.

Mathematics

1 answer:

Masja [62]3 years ago

6 0

Answer:

Future Balance

$1,044

Step-by-step explanation:

Compound interest is simple- It’s the interest you earn on both your original deposit and on the interest that your money earns. Compound interest allows your savings to grow faster over time. In an account that pays interest, the earnings are typically added to the original principal at the end of every compounding period. That's often daily or monthly. Each time interest is calculated and added to the account, the larger balance results in more interest earned than before. This is what’s meant by compound interest. Note that high-interest savings accounts earn money faster than accounts with lower yields.

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3 years ago

10$ is spent on 2 big pails and 1 small one. A smail pail cosf half as much as each big one. How much is spent on a big pail? Ho

Mila [183]

Answer:

$4 is spent on a big pail and $2 is spent on a small pail.

Step-by-step explanation:

Given:

10$ is spent on 2 big pails and 1 small one.

A small pail cost half as much as each big one.

Now, to find the amount spent on a big pail and on a small pail.

Let the cost of a big pail be $x.$

And the cost of small pail be $\frac{x}{2} .$

As given, there are 2 big pails.

And the total money spent = $10.

According to question:

$(x+x)+\frac{x}{2}=10$

$2x +\frac{x}{2}=10$

$\frac{4x+x}{2} =10$

$\frac{5x}{2} =10$

Multiplying both sides by 2 we get:

$5x=20$

Dividing both sides by 5 we get:

$x=4.$

The cost of a big pail = $4.

So, the cost of a small pail = $\frac{x}{2} =\frac{4}{2}=\$2.$

Therefore, $4 is spent on a big pail and $2 is spent on a small pail.

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3 years ago

Can you please help me with the whole table

Bad White [126]

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3 years ago

The sales tax in New Jersey is 6%. For a $16 book, what will the total cost be, including sales tax?

Rasek [7]

The sales tax in New Jersey is 6%. For a $16 book, what will the total cost be, including sales tax?
Solutions:
=> 16 dollars is the amount of book
=> 6% is the sales tax which is equals to (6% / 100% = 0.06)
Let’s follow the formula to get the total amount to be paid.
=> 16 dollars * .06 = .96 dollars
Now, let’s add this together:
=> .96 + 16 dollars = 16.96 dollars.

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3 years ago

Read 2 more answers