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Nata [24]
4 years ago
14

Tina wants to save money for school. Tina invests 400$ in an account that pays interest rate of 8%. How many years will it take

if her goal is 5500$
Mathematics
1 answer:
goldfiish [28.3K]4 years ago
8 0
To determine the number of years it would take for money to reach a certain amount, we need to know the type of interest of the problem. As a general rule, when it is not stated clearly in the problem, we assume that it is a simple interest problem since it is the basic type of interest. We use the formula for the future value for simple interest rate. It is expressed as:

F = P (1 + i )^n        where F is the future value, P is the present value, i is the interest rate, and n is the number of years

We calculate as follows:
5500 = 400 (1 + .08 )^n
55/4 = (1 + .08)^n
n = 34.06 years

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Step-by-step explanation:

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7 0
3 years ago
Is (–5, 0.5) a solution of this system? x – 4y = –7, 0.2x + 2y = 0 Substitute (–5, 0.5) into x – 4y = –7 to get . Substitute (–5
kaheart [24]

<u>ANSWER: </u>

(-5, 0.5) is the solution of given equation x – 4y = –7, 0.2x + 2y = 0.

<u>SOLUTION: </u>

Given, two equations are x – 4y = -7 → (1)

And 0.2x + 2y = 0 → (2)

We have to find whether (-5, 0.5) is a solution of given system or not.

For that, we have to solve the given two equations.  

Before solving let us multiply equation (2) with 2 in order to get y terms cancelled. Such that, our  process becomes easy.  

Now equation (2) becomes

0.4x + 4y = 0 → ( 3 )

Now, add equation (1) and equation (3), we get

1.4x + 0 = -7

x=\frac{-7}{1.4}=-5

Now, substitute x value in (2)

0.2(-5) + 2y = 0

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So, the solution for given equations is (-5, 0.5).

Hence (-5, 0.5) is the solution of given equations.  

8 0
4 years ago
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mylen [45]
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Step-by-step explanation:

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Reptile [31]

Answer:

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Step-by-step explanation:

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