A new bank customer with $5,000 wants to open a money market account. The bank is offering a simple interest rate of 1.8%.
1 answer:
Answer:
a) 900 dollars
b) 5900 dollars
Step-by-step explanation:
The complete question is
A new bank customer with $5,000 wants to open a money market account. The bank is offering a simple interest rate of 1.8%. a. How much interest will the customer earn in 10 years? b. What will the account balance be after 10 years?
solution
a) The simple interest SI
Where P is the principal amount
R is the rate of interest and
T is the time period
Substituting the given values, we get -
SI
dollars
b) Amount is the sum of Principal and simple interest
dollars
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Answer:
Kameryn will have more words typed than Joe when the number of minutes exceeds 34.
Step-by-step explanation:
Let
x -----> the number of minutes
y ----> the total words typed
we know that
<em>Kameryn</em>
-----> equation A
<em>Joe</em>
-----> equation B
Solve the system of equations by substitution
Substitute equation A in equation B and solve for x
That means
For x=34 minutes
The amount of words written by Kameryn and Joe are the same.
therefore
For x > 34 minutes
Kameryn will have more words typed than Joe when the number of minutes exceeds 34.
His first payment is $100, thus a₁ = 100.
the next "term", month will be 1.1 times more than the one before, namely r = 1.1, the common ratio.
is the serie divergent or convergent?
well, to make it short, when the common ratio is 0 < | r | < 1, namely a fraction between 0 and 1, only then the serie is convergent, namely it reaches a fixed value, now in this case, 1.1 is a value larger than anything between 0 and 1, so no dice.
the next "term", month will be 1.1 times more than the one before, namely r = 1.1, the common ratio.
is the serie divergent or convergent?
well, to make it short, when the common ratio is 0 < | r | < 1, namely a fraction between 0 and 1, only then the serie is convergent, namely it reaches a fixed value, now in this case, 1.1 is a value larger than anything between 0 and 1, so no dice.