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vesna_86 [32]
3 years ago
13

Greg invests $500 in a savings account that earns 4% simple interest annually. If he does not make any additional deposits or wi

thdrawals, how much money will be in the savings account after 3 years?
Mathematics
1 answer:
liberstina [14]3 years ago
5 0
500*4 = 2,000. Since his savings account earns 4% simple interest annually he would have 2000 in his account after 3 years since he didn’t make any deposits or withdrawals.
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Liono4ka [1.6K]
Your answer is $30,000.
The way I have answered this is quite strange, but I'll do my best to explain it. So because we know that $30,900 is 3% than last year, we can call it 103%. This allows us to form a ratio and therefore find 100%.
30,900 : 103
÷ 103
300 : 1
× 100
30,000 : 100
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Murrr4er [49]

Answer:

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Step-by-step explanation:

a_1 = First term = \dfrac{1}{3}

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S=\dfrac{n}{2}[2a_1+(n-1)d]\\\Rightarrow S=\dfrac{20}{2}\times (2\times \dfrac{1}{3}+(20-1)\dfrac{1}{3})\\\Rightarrow S=70

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What would you do if he said ok so he said yes would go?

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