Can someone help me with this

20 POINTS!!! If you put $ 2 comma 700 a year for 3 years into an IRA that earns 3.3% a year, how much will you have saved at t

inysia [295]

Answer:

At the end of 3 years, we could save upto $ 2975.4 with an interest rate of 3.3 %

Step-by-step explanation:

If we are putting $ 2700 into our IRA ( individual Retirement Account) for 3 years and we are earning 3.3% profit every year, we need to find the total amount saved at the end of 3 years.

Since the interest is calculated for more than 1 year, this is an example of compound interest.

The formula used is:

$FV = P ( 1 + r/n) ^n^t$

where FV = future value

P= Principal amount of money deposited

r= annual interest rate ( in decimal form)

n= number of times interest rate is compounded (yearly)

t= time period

So for our given guestion:

P= $2,700

r = 3.3 % = 0.033

n= 1

t= 3

putting our values in the formula

$FV = P ( 1 + r/n) ^n^t$

$FV = 2700 ( 1+ 0.033 / 1 ) ^ 1 ^* ^ 3$

$FV = 2700 (1.033) ^ 3$

$FV = 2975.4$

So, at the end of 3 years, we could save upto $ 2975.4 with an interest rate of 3.3 %

4 0

3 years ago

If the length of diagonal of a square is 4√2 cm, find it's length, perimeter and area.

Sonbull [250]

Answer:

As Per Provided Information

Length of diagonal of square is 4√2 cm

We have been asked to find the length , perimeter and area of square .

First let's calculate the side of square .

Using Formulae

$\boxed{\bf \:Diagonal_{(Square)} \: = side \sqrt{2}}$

On substituting the value in above formula we obtain

$\qquad\longrightarrow\sf \:4 \sqrt{2} = side \sqrt{2} \\ \\ \\ \qquad\longrightarrow\sf \:4 \cancel{\sqrt{2}} = side \cancel{ \sqrt{2}} \\ \\ \\ \qquad\longrightarrow\sf \:side \: = 4 \: cm$