Equation:
A = P(1 + rt)
How to do it:
First, converting R percent to r a decimal
r = R/100 = 2.5%/100 = 0.025 per year,
putting time into years for simplicity,
9 months ÷ 12 months/year = 0.75 years,
then, solving our equation
A = 600(1 + (0.025 × 0.75)) = ___
What is it?

3 0

3 years ago

If the money and interest are left in the bank how much is the total accumulated savings at the end of the second year for a sav

Mekhanik [1.2K]

$\qquad \textit{Compound Interest Earned Amount}\\
A=P\left(1+\frac{r}{n}\right)^{nt}
\qquad 
\begin{cases}
A=\textit{current amount}\\
P=\textit{original amount deposited}\to &\$3,500\\
r=rate\to 8\%\to \frac{8}{100}\to &0.08\\
n=\textit{times it compounds per year}\to &1\\
t=years\to &2
\end{cases}
\\ \quad \\
A=3500\left(1+\frac{0.08}{1}\right)^{1\cdot 2}\implies 3500(1.08^2)$

6 0

3 years ago

Is this relation a function? ​{(1,4), (-5,2), (4,1), (1,6)}

Is this relation a function? {(1,4), (-5,2), (4,1), (1,6)}