316=5 459=6 248=4 739=?
1 answer:
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Answer:
a) $3480
b) $4036.8
Step-by-step explanation:
The compound interest formula is given by:
Where A(t) is the amount of money after t years, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per year and t is the time in years for which the money is invested or borrowed.
Suppose that $3000 is placed in an account that pays 16% interest compounded each year.
This means, respectively, that
So
(a) Find the amount in the account at the end of 1 year.
This is A(1).
(b) Find the amount in the account at the end of 2 years.
This is A(2).
The total cost without the discount is given by:
$
Then, to find the discounted amount, we make the following rule of three:
10 $ ------------------> 100%
x ----------------------> 20%
From here, we clear the value of x.
We have then:
Then, the cost of the Strawberries with the discount is:
$
Answer:
Kate pays for the strawberries about $ 8.