Answer:
Principal = 3500
Time = 8 years
We are given that compound quarterly
So, No. of compounds per year = 2
Rate of interest = 5%
Formula :
Substitute the values :
Interest = 3863.345 - 3500 = 363.345
Hence the total amount in an investment of $3500 that was compounded quarterly for 8 years at a rate of 5% is $3863.345 and the interest that was made on that account mentioned is $363.345
Answer:
(C) 220
Step-by-step explanation:
Let x represent the number of adult tickets sold and y represent the number of student tickets sold. With the information given, we can set up two equations:
(Since for every adult ticket sold, $5 is made and for every student ticket sold, $3 is made)
In the first equation, we can represent x in terms of y:
And then, we can substitute x in the second equation for 360 - y to get:
which simplifies to:
and therefore,
.
Hope this helps :)
