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Liono4ka [1.6K]
3 years ago
14

How much would you have in your account if you invested $1000 at an interest rate of 8% compounded quarterly for 20 years.​

Mathematics
1 answer:
goblinko [34]3 years ago
5 0

Answer:

A = $4,926.80

Step-by-step explanation:

First, convert R as a percent to r as a decimal

r = R/100

r = 8/100

r = 0.08 rate per year,

Then solve the equation for A

A = P(1 + r/n)nt

A = 1,000.00(1 + 0.08/12)(12)(20)

A = 1,000.00(1 + 0.006666667)(240)

A = $4,926.80

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Lea sold 2 cherry pies and 4 pumpkin pies for a total of $116. Kali sold 7 cherry pies and 8 pumpkins pies for a total of $286.
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Answer: the cost of one cherry pie is $18 and the cost of one pumpkin pie is $20

Step-by-step explanation:

Let x represent the cost of one cherry pie.

Let y represent the cost of one pumpkin pie.

Lea sold 2 cherry pies and 4 pumpkin pies for a total of $116. This means that

2x + 4y = 116 - - - - - - - - - - - - - -1

Kali sold 7 cherry pies and 8 pumpkins pies for a total of $286. This means that

7x + 8y = 286 - - - - - - - - - - - - 2

Multiplying equation 1 by 7 and equation 2 by 2, it becomes

14x + 28y = 812

14x + 16y = 572

Subtracting, it becomes

12y = 240

y = 240/12 = 20

Substituting y = 20 into equation 1, it becomes

2x + 4 × 20 = 116

2x + 80 = 116

2x = 116 - 80 = 36

x = 36/2 = 18

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4 years ago
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