A bank manager wants to open account with $3500 with 3% interest rate. What must the principal be if the bank manager also wants
1 answer:
You might be interested in
Answer:
Sum = $1.073
Interest = $0.073
Step-by-step explanation:
Given that $1 is invested for one year at 7.2% interest which compounds semi-annually.
Semi-annual means there should be two equal intervals in a year i.e. 6 months interval.
Now, the semi-annual rate of interest is %.
Therefore, the invested money will become
= $1.073
Therefore, the interest obtained will be $(1.073 - 1) = $0.073. ( Answer )
Answer:
The length of Louise’s basement is <u>90 feet</u>.
Step-by-step explanation:
Given:
Louis wants to carpet the rectangular floor of his basement.
The basement has an area of 4860 square feet.
The width of the basement is 3/5 it’s length.
Now, to find the length of Louise’s basement.
Let the length of basement be
So, the width is:
Area of the basement = 4860 square feet.
Now, to get the width of basement we put formula:
<em>Multiplying both sides by 5 we get:</em>
<em>Dividing both sides by 3 we get:</em>
<em>Using square root on both sides we get:</em>
Therefore, the length of Louise’s basement is 90 feet.