Answer:
<em>The interest earned is $302.18</em>
Step-by-step explanation:
<u>Compound Interest
</u>
It occurs when the interest is reinvested rather than paying it out. Interest in the next compound period is earned on the principal sum plus previously accumulated interest.
The formula is:
![{\displaystyle A=P\left(1+{\frac {r}{n}}\right)^{nt}}](https://tex.z-dn.net/?f=%7B%5Cdisplaystyle%20A%3DP%5Cleft%281%2B%7B%5Cfrac%20%7Br%7D%7Bn%7D%7D%5Cright%29%5E%7Bnt%7D%7D)
Where:
A = final amount
P = initial principal balance
r = interest rate
n = number of times interest applied per time period
t = number of time periods elapsed
The investment described in the question is of P=$600 at a rate of r=6%=0.06 for t=7 years compounded annually. The compounding period coincides with the time of interest rate, thus n=1.
Applying the formula:
![{\displaystyle A=600\left(1+{\frac {0.06}{1}}\right)^{1*7}}](https://tex.z-dn.net/?f=%7B%5Cdisplaystyle%20A%3D600%5Cleft%281%2B%7B%5Cfrac%20%7B0.06%7D%7B1%7D%7D%5Cright%29%5E%7B1%2A7%7D%7D)
![{\displaystyle A=600\left(1.06}\right)^{7}}](https://tex.z-dn.net/?f=%7B%5Cdisplaystyle%20A%3D600%5Cleft%281.06%7D%5Cright%29%5E%7B7%7D%7D)
A = $902.18
The interest is:
I = A - P = $902.18 - $600 = $302.18
The interest earned is $302.18
Answer:
200
Step-by-step explanation:
If it is in front of 150 it then it would be considered 100.
Answer:
(- 2, 3 )
Step-by-step explanation:
Given the 2 equations
x + y = 1 → (1)
2y - x = 8 → (2)
Adding the 2 equations term by term will eliminate the x- term
(x - x) + (y + 2y) = (1 + 8), that is
3y = 9 ( divide both sides by 3 )
y = 3
Substitute y = 3 into either of the 2 equations and solve for y
Substituting y = 3 in (1)
x + 3 = 1 ( subtract 3 from both sides )
x = - 2
Solution is (- 2, 3 )
The required value is 0.286 and ![\dfrac{2}{7}](https://tex.z-dn.net/?f=%5Cdfrac%7B2%7D%7B7%7D)
Step-by-step explanation:
Since we have given that
Number of students = 7
Number of students are from Middle Georgia State College = 4
So, Probability that both of the interviewed students are from Middle Georgia State College is given by
![\dfrac{4}{7}\times \dfrac{3}{6}\\\\=\dfrac{4}{7}\times \dfrac{1}{2}\\\\=\dfrac{2}{7}\\\\=0.286](https://tex.z-dn.net/?f=%5Cdfrac%7B4%7D%7B7%7D%5Ctimes%20%5Cdfrac%7B3%7D%7B6%7D%5C%5C%5C%5C%3D%5Cdfrac%7B4%7D%7B7%7D%5Ctimes%20%5Cdfrac%7B1%7D%7B2%7D%5C%5C%5C%5C%3D%5Cdfrac%7B2%7D%7B7%7D%5C%5C%5C%5C%3D0.286)
Hence, the required value is 0.286 and ![\dfrac{2}{7}](https://tex.z-dn.net/?f=%5Cdfrac%7B2%7D%7B7%7D)
Answer:
No
Step-by-step explanation:
17/10 is not proportional to 12/5. Proportional relationships are relationships between two variables where their ratios are equivalent. 17/10 as a ratio is 17:10 and 12/5 as a ratio would be 12:5. A proportional relationship for 12/5 would be 24/10.
Hope this helps :)