sam deposits $12,500 each year into a retirement account with a 3% simple interest
rate. if he deposits the same amount each year, how much money will he have at the
end of his fourth year?
$13,625
$26,725
$52,250
$54,500

$53750

Step-by-step explanation:

Sam deposit $12500 every year which grows at a simple interest of 3% and we have to calculate the total sum after 4 years.

If Sam deposit $x with r% simple interest then the principal will grow after 4 years to

Again, for the second year $x investment with r% simple interest will grow to  .

Now, the third year $x investment with r% simple interest will grow to  

And finally the fourth year $x investment with r% simple interest will grow to  

Therefore, the total sum becomes

=

=

So, in case of Sam the sum will be = = $53750

the final amount you will pay is $68.04.

the tip is determined by the pre-tax amount, so we calculate the tip based on the original bill, not after we've added sales tax.

to find the tip:

we can divide 54.00 by 100 to get 1% of 54. then we multiply that by 18.

54 / 100 = .54

.54 x 18 = 9.72

tip = 9.72$

to find the tax:

we can divide 54.00 by 100 to get 1% of 54. then we can multiply that by 8 to get 8%.

54 / 100 = .54

.54 x 8 = 4.32

tax= 4.32

now we can add the tip and tax to the bill to get our total.

54 + 9.72 + 4.32 = 68.04

total: $68.04

step-by-step explanation: