Mathematics, 24.04.2020 11:50 notearslefttocry14

Larry invests $100 in a savings plan. The plan pays 4 1/2 % interest each year on his $100 account balance.

a. How much money will Larry earn in interest after 3 years? After 5 years?

Answers: 2

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Answer from: puffley

$14.12 (after 3 years) and $24.62 (after 5 years)

Step-by-step explanation:

Use the compound amount formula (assuming annual compounding):

A = P(1 + r)^t

Here A = $100(1 + 0.045)^3 (after 3 years)

= $100(1.045)^3 = $114.12.

The interest earned (alone) would be $14.12.

After 5 years:

Here A = $100(1 + 0.045)^5 (after 5 years)

= $100(1.045)^5 = $124.62

The interest earned (alone) would be $24.62.

Answer from: Quest

probability for j is 1/4

while

a is 1/6

Answer from: Quest

x= 1

step-by-step explanation: convert 5\frac{11}{12}5

to improper fraction. use this rule: a \frac{b}{c}=\frac{ac+b}{c}a

ac+b

3.25+0.5x+1\frac{1}{3}+\frac{5}{6}x=\frac{5\times 12+11}{12}3.25+0.5x+1

5×12+11

2 simplify 5\times 125×12 to 6060

3.25+0.5x+1\frac{1}{3}+\frac{5}{6}x=\frac{60+11}{12}3.25+0.5x+1

60+11

3 simplify 60+1160+11 to 7171

3.25+0.5x+1\frac{1}{3}+\frac{5}{6}x=\frac{71}{12}3.25+0.5x+1

4 simplify \frac{5}{6}x

x to \frac{5x}{6}

3.25+0.5x+1\frac{1}{3}+\frac{5x}{6}=\frac{71}{12}3.25+0.5x+1

5 convert 1\frac{1}{3}1

to improper fraction. use this rule: a \frac{b}{c}=\frac{ac+b}{c}a

ac+b

3.25+0.5x+\frac{1\times 3+1}{3}+\frac{5x}{6}=\frac{71}{12}3.25+0.5x+

1×3+1

6 simplify 1\times 31×3 to 33

3.25+0.5x+\frac{3+1}{3}+\frac{5x}{6}=\frac{71}{12}3.25+0.5x+

3+1

7 simplify 3+13+1 to 44

3.25+0.5x+\frac{4}{3}+\frac{5x}{6}=\frac{71}{12}3.25+0.5x+

8 simplify 3.25+0.5x+\frac{4}{3}+\frac{5x}{6}3.25+0.5x+

to \frac{13.75}{3}+\frac{4x}{3}

13.75

\frac{13.75}{3}+\frac{4x}{3}=\frac{71}{12}

13.75

9 simplify \frac{13.75}{3}

13.75

to 4.5833334.583333

4.583333+\frac{4x}{3}=\frac{71}{12}4.583333+

10 subtract 4.5833334.583333 from both sides

\frac{4x}{3}=\frac{71}{12}-4.583333

−4.583333

11 simplify \frac{71}{12}-4.583333

−4.583333 to \frac{4}{3}

\frac{4x}{3}=\frac{4}{3}

12 multiply both sides by 33

4x=\frac{4}{3}\times 34x=

×3

13 simplify \frac{4}{3}\times 3

×3 to \frac{12}{3}

4x=\frac{12}{3}4x=

14 simplify \frac{12}{3}

to 44

4x=44x=4

15 divide both sides by 44

x=1

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