Martin deposits $700 into a savings account that gains interest at a rate of 5.5% annually. If he waits 7 years to withdraw the money, will he have earned more or less money than $275 and by how much?

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Use the multiplier 1.055

final = original x multiplier^n

where 'n' is the number of years

Sub the values in

final = 700 x 1.055^7

final = 1018.27

Subtract the values:

1018.27 - 700 = 318.27

Thus, he earns more than $275

He earns $43.27 more

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-3

step-by-step explanation:

a drawing really does here:

so i draw the horizontal line y=2 and the vertical line x=-2 at this intersection i put b (this is where my right angle is going to be).   so point b is at (-2,2).   point a is 5 units long and is also on y=2 so this point has to be (3,2) or (-7,2) -doesn't matter i will go with (3,2).

now we know c is at (-2,y) we don't know the y yet bet we know that c is on x=-2.

we have the area of the triangle is .5bh=12.5

we know the base length is 5 (ab)

we have the height is (2-y) if you look at your

plug in

.5(5)(2-y)=12.5

solve for y to get the y-coordinate for c

2.5(2-y)=12.5

divide both sides by 2.5 giving:

2-y=5

now subtract 2 on both sides

-y=3

y=-3