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3 years ago

9

Michael has $96,962 in a savings account that earns 15% annually. The interest is not compounded. How much interest will he earn

in 4 years?

1 answer:

klasskru [66]3 years ago

4 0

Answer:

$58177.2

Step-by-step explanation:

15 percent of 96962 is 14,544.3 and times that by 4 is 58177.2

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Answer:

$| x1 -25\ | \leq\ 6$ is the correct answer to the given question.

Step-by-step explanation:

Missing information

In this question options are missing.Following are the option

(a) $| x1 -25\ | \leq\ 6$

(b) $| x1 - 6 |\ > 25$

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Step-by-step explanation:

6. All the sides of the square are equal (we know this because of the little lines on the sides), and the equation for finding the hypotanuse of a triangle is a^2+b^2=c^2. That's 20^2+21^2=x^2. That simplifies to 841^2=x^2, which then simplifies to x=29.

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3 years ago

a family buys a new home for $212,500 and pays a 20% down payment ($42,500). if the mortgage is for 15 years at 5.75% interest w

diamong [38]

Answer:

Their monthly house payment is of $2,184.65.

Step-by-step explanation:

Compound interest:

The compound interest formula is given by:

$A(t) = P(1 + \frac{r}{n})^{nt}$

Where A(t) is the amount of money after t years, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per year and t is the time in years for which the money is invested or borrowed.

A family buys a new home for $212,500 and pays a 20% down payment ($42,500).

This means that the loan is of 212,500 - 42,500 = $170,000, that is, $P = 170,000$

Value of the loan in 15 years:

15 years means that $t = 15$

5.75% interest means that $r = 0.0575$

Compounded yearly, so $n = 1$

Then

$A(t) = P(1 + \frac{r}{n})^{nt}$

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Their monthly house payment is of $2,184.65.

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3 years ago