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Crank
3 years ago
14

Kelsey deposited $3,600 in a bank account with an annual interest rate of 4.25%. How much

Mathematics
1 answer:
svp [43]3 years ago
8 0

Answer:

so you use the formula:

A = P(1 + r/n)nt

Where:

A = Accrued Amount (principal + interest)

P = Principal Amount

I = Interest Amount

R = Annual Nominal Interest Rate in percent

r = Annual Nominal Interest Rate as a decimal

r = R/100

t = Time Involved in years, 0.5 years is calculated as 6 months, etc.

n = number of compounding periods per unit t; at the END of each period

and you will get:

A = $ 4,432.85

A = P + I where

P (principal) = $ 3,600.00

I (interest) = $ 832.85

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Step-by-step explanation:

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8 0
3 years ago
Read 2 more answers
<img src="https://tex.z-dn.net/?f=%5Cfrac%7B%3F%7D%7B5%7D%20%2A%20%5Cfrac%7B10%7D%7B8%7D%20%3D1.5%5C%5C" id="TexFormula1" title=
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\boxed{\sf \huge \boxed{ \sf ?} = 6}

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\sf Solve  \: for \: \boxed{ \sf ?} :  \\  \sf \implies \frac{\boxed{ \sf ?}}{5}  \times  \frac{10}{8}  = 1.5 \\  \\  \sf  \implies \frac{\boxed{ \sf ?} \times 10}{5 \times 8}  = 1.5 \\  \\  \sf \frac{10}{5}  =  \frac{ \cancel{5} \times 2}{ \cancel{5}}  = 2 :  \\  \sf \implies  \frac{ \boxed{ \sf 2} \times \boxed{ \sf ?} }{8}  = 1.5 \\  \\  \sf \frac{2}{8}  =  \frac{ \cancel{2}}{ \cancel{2}  \times 4}  =  \frac{1}{4}  :  \\  \sf \implies \frac{\boxed{ \sf ?}}{ \boxed{ \sf 4}}  = 1.5 \\  \\  \sf Multiply  \: both  \: sides \:  of \:  \frac{\boxed{ \sf ?}}{4}  = 1.5 \: by \: 4 :  \\  \sf \implies \frac{4 \times \boxed{ \sf ?}}{4}  = 4 \times 1.5 \\  \\  \sf \frac{4 \times \boxed{ \sf ?}}{4} =  \frac{ \cancel{4}}{ \cancel{4}}  \times \boxed{ \sf ?} = \boxed{ \sf ?} :  \\  \sf  \implies \boxed{\boxed{ \sf ?}} = 4 \times 1.5 \\  \\  \sf 4 \times 1.5 = 6 :  \\  \sf \implies \boxed{ \sf ?} = 6

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