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Alexxandr [17]
3 years ago
11

Please help me with part A B and C can you write the answers and show me how you get it in a notebook please

Mathematics
1 answer:
Gelneren [198K]3 years ago
5 0

You can see all answers in the picture

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7500 dollars is placed in an account with an annual interest rate of 7.75%. To the nearest year, how long will it take for the a
MakcuM [25]

Answer:

It will take 55 years for the account value to reach 38200 dollars

Step-by-step explanation:

This is a simple interest problem.

The simple interest formula is given by:

E = P*I*t

In which E are the earnings, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.

After t years, the total amount of money is:

T = E + P.

In this problem, we ahve that:

T = 38200, P = 7500, I = 0.075

So

First we find how much we have to earn in interest.

38200 = E + 7500.

E = 38200 - 7500

E = 30700

How much time to earn this interest?

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t = \frac{30700}{7500*0.075}

t = 54.6

Rounding up

It will take 55 years for the account value to reach 38200 dollars

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3 years ago
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