The amount of interest earning using simple interest, after t years, with an yearly interest rate of i and an initial investment of P is given by:

$E = Pit$

In this problem:

Deposit of $178,000, hence $P = 178000$ .
Interest rate of 9.5% per year, hence $i = 0.095$ .
8 months, the time is in years, hence $t = \frac{8}{12} = \frac{2}{3}$

Item a:

$E = Pit$

$E = 178000(0.095)\frac{2}{3} = 11272.33$

The interest due after 8 months is $11,272.33.

Item b:

For the second interest, we consider $P = 11272.33$ , hence:

$E_2 = Pit$

$E_2 = 11272.33(0.095)\frac{2}{3} = 713.91$

The total value will be composed by:

The initial deposit of $178,000.
The first interest of $11,272.33.
The second interest of $713,91.

Hence, it will be:

$T = 178000 + 11272.33 + 713.91 = 189986.24$

The total value of the investment will be of $189,986.24.

A similar problem is given at brainly.com/question/13176347

3 0

3 years ago

Whats the linear equations of y=-2x+19

vodka [1.7K]

It would be a linear function

6 0

3 years ago

F(x) = 3x^2-3x + 1 Find f (-2)

Oxana [17]

Answer:

Step-by-step explanation:

f(x) = 3x^2-3x + 1

Let x = -2

f(-2) = 3( -2)^2-3*-2 + 1

= 3 * 4+6+1

= 12 +6+1

= 19

8 0

3 years ago