Answer:
$793
Step-by-step explanation:
The amount of money in an account earning simple interest is given by the formula ...
A = P(1 +rt)
where P is the principal invested at rate r for t years.
__
Using the values given in the problem statement, the account balance can be found to be ...
A = $650(1 +0.055×4) = $650×1.22 = $793
There will be $793 in the account after 4 years.
Anything more or less than 1 would result in a different outcome, and anything times 1 results in itself.
In this question it is already given that a person travels 8 miles in 0.5 hours. This is enough information to get to the required answer. Let us first write down all the information's that are already given in the question.
In 0.5 hours the person covers a distance = 8 miles
Then
In 1 hour the person covers a distance of = 8/0.5 miles
= 16 miles
So the speed of the person in miles per hour = 16/1 miles/hour
= 16 miles per hour
