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Stels [109]
3 years ago
11

Find the balance of a savings account after 2.5 years if the simple interest earned each quarter is 0.35% and the principal is $

450. The balance after 2.5 years is $
Mathematics
2 answers:
dlinn [17]3 years ago
3 0

Answer:

The balance of the account is $1335.6

Step-by-step explanation:

To find the new balance of the account after 212 years, we use simple interest formula to calculate that.

Principal = 450

Rate = 0.35% quarterly = (0.35*4) annually = 1.4% = 1.4 / 100 = 0.014

Reason why the rate was converted from quarterly to annually is because simple interest are calculated annually

T = 212 years

Simple Interest (S.I) = ?

S.I = PRT

S.I = 450 * 0.014 * 212

S.I = $1335.6

The balance of the account after 212 years is $1335.6

Step-by-step explanation:

jeka57 [31]3 years ago
3 0

Answer:

1335

Step-by-step explanation:

PRT

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house prices increased 13% between 1994 and 1996 .how much would a house be worth in 1996 cost £134,500 in 1994​
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Step-by-step explanation:

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.

Step-by-step explanation:

3.PS-15

Challenge The members of the city cultural center have decided to put on a play once a night for a

week. Their auditorium holds 500 people. By selling tickets, the members would like to raise $2,350

every night to cover all expenses. Let d represent the number of adult tickets sold at $6.50. Lets

represent the number of student tickets sold at $3.50 each. If all 500 seats are filled for a

performance, how many of each type of ticket must have been sold for the members to raise exactly

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3 0
2 years ago
47474747473737477373747
prohojiy [21]

∵ The formula of the compound interest is

A=P(1+\frac{r}{n})^{nt}

→ A is the new amount

→ P in the initial amount

→ r is the interest rate in decimal

→ n is the number of periods

→ t is the time

∵ The initial amount is 800 dollars

∵ The annual rate is 3% = 3/100 = 0.03

∵ It is a compounded annually

∴ n = 1

∵ t = 5 years

→ Substitute all of these values in the formula above

\begin{gathered} A=800(1+\frac{0.03}{1})^{1(5)} \\ A=800(1+0.03)^5 \end{gathered}

→ Use the calculator to find the answer

∴ A = 927.4192594 dollars

4 0
1 year ago
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