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Lelu [443]
3 years ago
15

Nakato Nobuki, a Japanese artist, intends to withdraw $ 24,000.00 from his savings at the end of 5 years. Mr. Nobuki deposits $

1,500.00 in savings annually and today has a balance of $ 8,000.00. What should be the savings interest rate for Nobuki to achieve his goals?
Mathematics
1 answer:
Elina [12.6K]3 years ago
8 0

Answer:

The savings interest rate of Nakato Nobuki is 3 %

Step-by-step explanation:

Given;

Final amount of Nakato Nobuki, A = $ 24,000.00

time period of his investment, t = 5 years

principla amount, P = $ 1,500.00

The savings interest rate of Nakato Nobuki can be calculated on a simple interest basis.

A  = P(1 + rt)

r is the savings interest rate

Substitute the given values and solve for r

24,000 = 1,500(1 + 5r)

24,000 = 1,500 +  7,500r

7,500r = 24,000 - 1,500

7,500r = 22,500

r = 22,500/7,500

r = 3 %

Therefore, the savings interest rate of Nakato Nobuki is 3 %

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Step-by-step explanation:

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Rebecca=

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Thank you

Hope it helps.

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3 years ago
Each year Lizzie’s school purchases student agenda books, which are sold in the school store. This year, the school purchased 35
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The school can charge $7.54 for each agenda book.

Step-by-step explanation:

Given,

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Therefore;

The school must sell 350 books for $2637.50

Thus,

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The school can charge $7.54 for each agenda book.

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Learn more about addition at:

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5 0
3 years ago
A school playground is in the shape of a rectangle 500 feet long and 400 feet wide. If fencing costs $12 per​ yard, what will it
sergiy2304 [10]

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6 0
2 years ago
-23/6 - 7/3=? explain please​
vlabodo [156]

Answer:

37/6

Step-by-step explanation:

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= 37/6 or 6 1/6

8 0
3 years ago
Read 2 more answers
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