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Oliga [24]
3 years ago
8

April and Cody invest $5,000 each at their local bank. April invests at a 4% simple interest rate, and Cody invests at a 4% inte

rest rate, compounded annually. What is the difference in their account balances after three years?
Mathematics
1 answer:
maria [59]3 years ago
3 0

Answer:

  • $24.32

Step-by-step explanation:

<u>The difference in balances is:</u>

  • 5000*(1 + 0.04)^3 - 5000*(1 + 0.04*3) =
  • 5624.32 - 5600 =
  • 24.32
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3 years ago
Solve the following proportion for the unknown variable: 15/d = 24/40
Pavel [41]
<span><u><em>Answer:</em></u>
d = 25

<u><em>Explanation:</em></u>
To get the value of d, we will need to isolate the d on one side of the equation.

<u>This can be done as follows:</u>
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<u>First, we will do cross multiplication as follows:</u>
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<u>Then, we will isolate the d as follows:</u>
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<span>
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Hope this helps :)</span>
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