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Ivan
3 years ago
7

If you deposit $400 into an account that offers a 5% interest rate. How much interest will you earn after 1 year?

Mathematics
1 answer:
RideAnS [48]3 years ago
3 0

Answer: The answer is $20

Multiply 400 by .05 or 5%.

If you wanna know 6 years it would be 536 usd

Explanation:

This would be an compound interest. Meaning that your gain every year would increase exponentially.

The equation to calculate this would be: Kn = K0⋅

(1+p100)n Kn is your savings after the period nK0 is your starting deposit p is the percentage n is the period of interest for your example we would have.

Kn=400⋅

(1+5100)6

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Answer:

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  • Multiply 5 by 5 to get your first parameter.

5 * 5 = 25

  • Multiply 6 by 5 to get the denominator, or your second parameter.

5 * 6 = 30

  • For the second fraction, \frac{14}{15}, you need to multiply both parameters by 2, similar to before, but we now must use a different number, otherwise, the denominators will not be the same.

14 * 2 = 28

  • Now, multiply 15 by 2

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  • The last step is to put these numbers you gathered into fractions. The bigger number always goes on the bottom, referred to as the denominator, while the smaller number, referred to as the numerator, always goes on the top.

25~and~30 -- > \frac{25}{30}

28~and~30-- > \frac{28}{30}

________________________________________________________

Finally, the problem is solved. Now that the problem is solved, we review what we just learned <em>not through more problems, though.</em>

________________________________________________________

<h3>What have we learned?</h3>

We learned how to efficiently make fractions' deominators match.

Questions related to this topic? Ask me in the comments box, please!

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