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NISA [10]
2 years ago
15

Sam invests $800 at 6%/a compounded annually for 5 years. What is the total interest earned?

Mathematics
1 answer:
s2008m [1.1K]2 years ago
4 0
<h3>Answer:    270.58 dollars</h3>

======================================================

Work Shown:

  • A = account value after t years
  • P = principal or amount deposited = 800
  • r = interest rate in decimal form = 0.06
  • n = number of times we compound per year = 1
  • t = number of years = 5

So,

A = P*(1+r/n)^(n*t)

A = 800*(1+0.06/1)^(1*5)

A = 1070.58046208

A = 1070.58

After five years, the account will have $1,070.58 in it.

The amount of interest earned is A-P = 1070.58 - 800 = 270.58 dollars.

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7 0
3 years ago
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The correct question is;

You spin the spinner, flip a coin, then spin the spinner again. Find the probability of the compound event. Write your answer as a fraction or percent. If necessary round your answer to the nearest hundredth. Find the probability of spinning an odd number, flipping heads, then spinning another odd number? Write your answer as a fraction in simplest form.

Answer:

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Whereas, if the spinner has an odd number of spaces, more information is needed

Step-by-step explanation:

The answer will depend on whether the spinner has an odd or even number of spaces.

Now, if we suppose that the spinner has an even amount of numbers on it, there will be an equal number of odd and even numbers.

Thus the probability of spinning an odd number is ½.

Also, the probability of flipping heads on a coin is ½.

Thus, the probability of spinning an odd number, flipping heads, then spinning another odd number is;

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If the spinner has an odd amount of numbers on it, the probability of spinning an odd number will vary. For instance, if there are 5 spaces on the spinner, the probability of spinning an odd number will be

3

However, if there are 9 spaces, the probability will be 5/9

So,we can conclude that;

If the spinner has an even number of spaces, the probability of spinning an odd number, flipping heads, then spinning a yellow is = 1/8

Whereas, if the spinner has an odd number of spaces, more information is needed.

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Step-by-step explanation:

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