What is the square root of 16 ? Join 915 9482 0043 Gm1fgZ
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The total amount is $ 1015.82 and interest amount is $ 165.82
<em><u>Solution:</u></em>
<em><u>The formula for amount when interest is compounded annually is:</u></em>
Where,
"A" is the total amount
"P" is the principal
"r" is the rate of interest in decimal form
"n" is the number of years
<em><u>From given, $850 at 2% for 9 years, compounded annually</u></em>
P = 850
t = 9 years
<em><u>Substituting the given values we get,</u></em>
Thus total amount is $ 1015.82
Interest amount = Total amount - principal
Interest amount = 1015.82 - 850
Interest amount = 165.82
Thus total amount earned is $ 1015.82 and interest amount is $ 165.82
Answer:
and
Step-by-step explanation:
Given:
Equation 1:
Simplifying the above equation by dividing both sides by 100
Equation 2:
Simplifying the above equation by dividing both sides by 400.
Now the system of equation is:
(1a)
(2a)
Solving by elimination
Multiplying equation (2a) with
(2b)
Adding equations (1a) and (2b) in order to eliminate
+
We get
∴
Plugging in equation (2a).
Adding both sides.
∴