Answer:
$43.65
Step-by-step explanation:
1. divide 48.50 by 10
4.85
2. subtract 4.85 from 48.50
3. your answer would be $43.65
It's an 11% increase. To find this, you have to subtract 85 from 94.35 and then you divide that difference by the original amount. In this case it's 85. After that, you get .11. Then you just turn it into a percent.
Answer:
$3743.43
Step-by-step explanation:
The amount is given by the formula ...
A = Pe^(rt)
where P is the principal, r is the annual rate compounded continuously, and t is the number of years. Filling in the values, we get ...
A = $1600·e^(0.0425·20) = $1600·e^0.85
≈ $1600·2.33964685 ≈ $3743.43
The amount in the account will be $3743.43.
