I put the solution on the paper
Answer:
9000
Step-by-step explanation:
67.50 x 2 x 12 = 1620 (deduction for the whole yr)
1620 / 18 x 100 = 9000
Answers:
- interest = $75
- balance at maturity = $3075
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Explanation:
The simple interest formula is
i = p*r*t
where in this case,
- p = 3000 = principal (amount deposited)
- r = 0.10 = annual interest rate in decimal form
- t = 3/12 = 0.25 = number of years
So,
i = p*r*t
i = 3000*0.10*0.25
i = 75 is the amount of interest earned
This adds onto the initial deposit to get the final balance when the CD matures (ie when you're able to withdraw the money without penalties)
The balance at maturity is p+i = 3000+75 = 3075 dollars
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In short, you deposit $3000 into the CD and have to wait 3 months for the amount to update to $3075.
Counting each visible cube, and multiplying it by 2, he used 112. If you counted them, there would be 56 cubes. You'd multiply by 2 for the non-visible ones.
