I need help and can you explain how you got the answer because I don’t understand how to do this..
1 answer:
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Answer:
$57,369
Step-by-step explanation:
We have been given that an amount of $53,000 is placed in an investment account that grows at a fixed rate of 2% (compound growth) per year. We are asked to find the amount in the account after 4 years.
To solve our given problem we will use compound interest formula.\
, where,
A = Final amount after t years,
P = Principal amount,
r = Annual interest rate in decimal form,
n = Number of times interest is compounded per year,
t = Time in years.
Let us convert our given rate in decimal form.
Upon substituting our given values in compound interest formula we will get,
Therefore, an amount of $57,369 will be in the account after 4 years.
The solution to the inequalities x + 8y ≤ 50, x ≤ 30, y > 2 is the darker region shown on the graph.
<h3>What is an equation?</h3>An equation is an expression that shows the relationship between two or more variables and numbers.
Let x represent the number of individual songs and y represent the number of albums, hence:
x + 8y ≤ 50 (1)
x ≤ 30 (2)
y > 2 (3)
The solution to the inequalities x + 8y ≤ 50, x ≤ 30, y > 2 is the darker region shown on the graph.
Find out more on equation at: brainly.com/question/2972832
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