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Tema [17]
3 years ago
5

Tim’s savings account pays a simple annual interest rate of 3.5%. Suppose he deposits $5,500 in the account and makes no additio

nal deposits or withdrawals for 5 years. What will the total value of the account be after 5 years?
Mathematics
1 answer:
dimaraw [331]3 years ago
6 0

$6462.5

Simple Interest = (Principal × Rate × Time) / 100

SI = (P×R×T) / 100

P = 5500

R = 3.5

T = 5

[substitute the values into the formula]

SI = (5500 × 3.5 × 5) / 100

SI = 96250 / 100

SI = 962.5

Total = Principal + Simple Interest

T = P + SI

T = 5500 + 962.5

T = 6462.5

The total value of the account after 5 years will be $6462.5

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Read 2 more answers
Choose all the expressions that are equal to 5/9×8. A. 9÷5×8 B. 8/9×5 C. 5÷8×9 D. 5×1/9×8 E. 5×8
Charra [1.4K]
<h2>Problem:</h2>

Choose all the expressions that are equal to 5/9×8.

A. 9÷5×8

B. 8/9×5

C. 5÷8×9

D. 5×1/9×8

E. 5×8

<h2>Solution:</h2>

\purple{ \frac{5}{9}  \times 8 =  \frac{40}{9}  = 4 \:  \frac{4}{9} }

\red{9 \div 5 \times 8 =  \frac{9}{5}  \times 8 =  \frac{72}{5}  = 14 \:  \frac{2}{5} }

\red{ \frac{8}{9}  \times 5 =  \frac{40}{9}  =  \boxed{4 \:  \frac{4}{9} }}

\red{5 \div 8 \times 9 =  \frac{5}{8}  \times 9 =  \frac{45}{8}  = 5 \:  \frac{5}{8} }

\red{5 \times  \frac{1}{9}  \times 8 =  \frac{5}{9}  \times 8 =  \frac{40}{9}  =  \boxed{4 \:  \frac{4}{9} }}

\red{5 \times 8 = 40}

<h2>Answer:</h2>

<u>B</u><u> </u><u>a</u><u>n</u><u>d</u><u> </u><u>D</u>

<h2>=============================</h2>

Hope it helps

<h2>=============================</h2>
5 0
3 years ago
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