We have been given that Willy has compounded monthly to invest his summer earnings of $4259 in the Rock Solid Bank. The bank is offering 6%. We are asked to find the amount of money will be after 5 years.

We will use compound interest formula to solve our given problem.

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

A = Final amount after t years,

P = Principal amount,

r = Annual interest rate in decimal form,

n = Number of times interest is compounded per year.

t = Time in years.

$6\%=\frac{6}{100}=0.06$

Since interest is compounded monthly, so $n=12$ and $P=4259$ .

$A=\$4259(1+\frac{0.06}{12})^{12\cdot 5}$

$A=\$4259(1+0.005)^{60}$

$A=\$4259(1.005)^{60}$

$A=\$4259(1.3488501525493161)$

$A=\$5744.752799707\approx \$5744.75$

Therefore, Will will have approximately $\$5744.75$ in 5 years.

7 0

3 years ago

A taxi charges a pick-up fee p!us a charge per mile. Maria paid $15.00 for a 7 mile rode. To my paid $19.50 for a 10 mile ride.

lukranit [14]

Answer:

The y-intercept in coordinate form is (0, 4.5) and represents the taxi pick-up fee. The equation is y=1.5x + 4.5.

Step-by-step explanation:

This question is asking for the slope and y-intercept of a linear equation. A linear equation makes a straight line based on a constant rate of change. For this problem, the cost per mile is the slope, while the independent variable 'x' is the number of miles and the dependent variable 'y' is the total cost. In order to first find slope, you need to use the two points given (7, 15) and (10, 19.5) to set up a change in y / change in x, or (19.5-15)/(10-7) or 4.5/3 which is 1.5. So the slope, or cost per mile is $1.50. To find the y-intercept (b), or the cost of the pick-up fee, simply fill in your equation y=1.5x + b with your other variables and solve for 'b'. So, 15 = (1.5 x7) + b. or 15 = 10.5 +b, subtract 10.5 from both sides of the equation to get b=4.5.

5 0

4 years ago

Sterling has prepared the following two-column proof below. He is given that ∠OLN ≅ ∠LNO and he is trying to prove that OL ≅ ON.

melamori03 [73]

Answer:

SSA Theorem with two sides and an angle

Step-by-step explanation:

3 0

3 years ago

Expand 3(5y-3) can someone answer this please

docker41 [41]

Answer:

15y -9

Step-by-step explanation:

3(5y-3)

Distribute

3*5y -3*3

15y -9

7 0

3 years ago

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