Where can you find the hypotenuse of a right triangle
2 answers:
You might be interested in
Answer:
The amount in the first account is $5,700
The amount in the second account is $1,300
Step-by-step explanation:
Let the mount invested in the first account be and the one invested in the second account be
.
Then the total principal is ---->(1)
The interest in the first account is
The interest in the first account is
The total interest for the year is 262.00.
This implies that:
---->(2)
We solve the two equations simultaneously to get:
and
Answer:
Principal = 3500
Time = 8 years
We are given that compound quarterly
So, No. of compounds per year = 2
Rate of interest = 5%
Formula :
Substitute the values :
Interest = 3863.345 - 3500 = 363.345
Hence the total amount in an investment of $3500 that was compounded quarterly for 8 years at a rate of 5% is $3863.345 and the interest that was made on that account mentioned is $363.345