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julia-pushkina [17]
3 years ago
6

Using the formula in model 1, choose the correct answers for the total amount and amount of interest earned in the following com

pound interest problem. $500 at 4% for 5 years, compounded annually. Total Amount = $ Interest Amount =$
Mathematics
1 answer:
Gennadij [26K]3 years ago
7 0
The formula to find the total amount is
A=p (1+r)^t
A total amount?
P present value 500
R interest rate 0.04
T time 5years
A=500×(1+0.04)^(5)=608.33

To find the interest amount just subtract the amount of the present value from the total amount
interest amount
608.33−500=108.33
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Answer:

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3 0
3 years ago
Kristen has 64 coins in her bank. She has $9.25 in dimes and quarters. How many dimes and quarters does she have?
Stella [2.4K]
D= # of dimes
q= # of quarters

QUANTITY EQUATION:
d + q= 64

COST EQUATION:
0.10d + 0.25q= $9.25


STEP 1:
multiply quantity equation by -0.10 to be able to eliminate the d term in step 2

(-0.10)(d + q)= (-0.10)(64)
-0.10d - 0.10q= -6.40


STEP 2:
add equation from step 1 to cost equation to eliminate the d term and solve for q

Add
0.10d + 0.25q= $9.25
-0.10d - 0.10q= -6.40

0.15q= 2.85
divide both sides by 0.15

q= 19 quarters


STEP 3:
substitute q value in step 2 into either original equation to find d value

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d + 19= 64
subtract 19 from both sides

d= 45 dimes


CHECK:
0.10d + 0.25q= $9.25
0.10(45) + 0.25(19)= 9.25
4.50 + 4.75= 9.25
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ANSWER: There are 45 dimes and 19 quarters.

Hope this helps! :)
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