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LenaWriter [7]
3 years ago
14

$1200 is invested at 3% compounded quarterly. What is the total amount, to the nearest dollar, after 5 years?

Mathematics
1 answer:
Mekhanik [1.2K]3 years ago
8 0
The formula to calculate the amount is 1200(1+0.03/4)^5
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The sum of three numbers is 102. The first number is 6 more than the second. The third number is 4 times the second. What are th
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Answer:

1st number: 22

2nd number: 16

3rd number: 64

Step-by-step explanation:

x + y + z = 102

x = 6 + y

z = 4y

plug that in!

(6 + y) + y + (4y) = 102

get rid of the parenthesis (I added them so you could see what I was replacing) and add like terms.

6 + 6y = 102

move 6 to the other side.

6y = 96

y = 16

now that you know one number, you can solve the equations for the rest!

x = 6 + (16)

z = 4(16)

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x = 22

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Step-by-step explanation:

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\bf ~~~~~~ \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+\frac{r}{n}\right)^{nt} \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill &\$175\\ r=rate\to 4\%\to \frac{4}{100}\dotfill &0.04\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{quarterly, thus four times} \end{array}\dotfill &4\\ t=years\dotfill &2 \end{cases}

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