Compound Interest is the interest that is <em>compounded on a particular sum of money or investment over a given period of time.</em>
- The interest for the first year is $1,576.25
- The sum of money after adding the original to the interest is $11,576.25
- The interest on the new total is $13,400.96
- Step 1: Find the interest for the first year.
The formula is given as:
A = P(1 + r/n)^nt
P = Principal = $10,000
R = Rate = 5%
n = 1
t = 1
First, convert R as a percent to r as a decimal
r = R/100
r = 5/100
r = 0.05 rate per year,
Then solve the equation for A
A = P(1 + r/n)^nt
A = 10,000(1 + 0.05/1)^(1)(3)
A = 10,000.00(1 + 0.05)^(3)
A = $11,576.25
I = A - P
Hence:
I = $11,576.25 - $10,000.00
I (interest) = $1,576.25
-
Step 2: Add the interest to the original amount.
$10,000 + $1,576.25
= $11,576.25
-
Step 3: Determine interest in the new total
The formula is given as:
A = P(1 + r/n)^nt
P = Principal = $11,576.25
r = 0.05 rate per year,
Then solve the equation for A
A = P(1 + r/n)^nt
A = 11,576.25(1 + 0.05/1)^(1)(3)
A = 11,576.25(1 + 0.05)^(3)
A = $13,400.96
Therefore,
- The interest for the first year is $1,576.25
- The sum of money after adding the original to the interest is $11,576.25
- The interest on the new total is $13,400.96
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Answer:
x = 2 and y = 
Step-by-step explanation:
To solve this system of equation, we will follow the steps below;
We will use both elimination and substitution method to solve this system of equations
12x−15y=14 ------------------------------------------------------------------------(1)
8x−15y=6 --------------------------------------------------------------------------(2)
subtract equation (2) from equation (1)
(By doing that the y variable will be eliminated)
4x = 8
Divide both-side of the equation by 4
4x/4 = 8/4
x = 2
Substitute x =2 into equation (2) and then solve for y
8x−15y=6
8(2)−15y=6
16 - 15y = 6
subtract 16 from both-side of the equation
16 - 16- 15y = 6-16
-15y = -10
Divide both-side of the equation by -15
-15y/-15 = -10/-15
y =
x = 2 and y =
Answer:
36 + 42 = 6(6 + 72)
Step-by-step explanation:
36 + 42 = 78 - 6 = 72 = 6(6 + 72)
Answer:
incorrect is They have a sum of -14
