02.04.2021

Need help asap important! thanks so much! Suppose you deposited $300 in the bank and left it there for 2 years. If the bank

pays 7% interest, compounded each year, how much money would you have at

the end of the 2 years? You may use a calculator. (Hint: Make a chart showing each

year’s balance and interest.)

. 0

Step-by-step answer

09.07.2023, solved by verified expert
Unlock the full answer

You would have $343.37 at the end of the 2 years.

Step-by-step explanation:

Interest earned is like bonus money the bank pays you just for keeping money

Need help asap important! thanks so much! Suppose, №18009931, 02.04.2021 03:04

P: the starting balance of the account (also called initial deposit, or principal)

A: the new balance in the account after N years.

t: the number of years or time

r: the interest rate, (in decimal form)

n: the number of times the interest is compounded each year.

Annually = each year = 1

P =$300, r = 7%, t = 2, n = 1, A = ?

Substitute the numbers into the "Compound Interest Formula".

Need help asap important! thanks so much! Suppose, №18009931, 02.04.2021 03:04

Need help asap important! thanks so much! Suppose, №18009931, 02.04.2021 03:04

Need help asap important! thanks so much! Suppose, №18009931, 02.04.2021 03:04

Need help asap important! thanks so much! Suppose, №18009931, 02.04.2021 03:04

Need help asap important! thanks so much! Suppose, №18009931, 02.04.2021 03:04

Need help asap important! thanks so much! Suppose, №18009931, 02.04.2021 03:04

Need help asap important! thanks so much! Suppose, №18009931, 02.04.2021 03:04

Need help asap important! thanks so much! Suppose, №18009931, 02.04.2021 03:04

Need help asap important! thanks so much! Suppose, №18009931, 02.04.2021 03:04

Need help asap important! thanks so much! Suppose, №18009931, 02.04.2021 03:04

Need help asap important! thanks so much! Suppose, №18009931, 02.04.2021 03:04

So you would have $343.37 at the end of the 2 years.

Look at the chart

Need help asap important! thanks so much! Suppose, №18009931, 02.04.2021 03:04

It is was helpful?

Faq

Mathematics
Step-by-step answer
P Answered by Master

You would have $343.37 at the end of the 2 years.

Step-by-step explanation:

Interest earned is like bonus money the bank pays you just for keeping money

\mathrm{Compund\:Interest\:Formula}:\quad A =  P {  \left( 1+ \dfrac{ r  }{ n  }    \right)    }^{ nt  }

P: the starting balance of the account (also called initial deposit, or principal)

A: the new balance in the account after N years.

t: the number of years or time

r: the interest rate, (in decimal form)

n: the number of times the interest is compounded each year.

Annually = each year = 1

P =$300, r = 7%, t = 2, n = 1, A = ?

Substitute the numbers into the "Compound Interest Formula".

A =  300 {  \left( 1+ \dfrac{ 0.07  }{ 1  }    \right)    }^{ 1 \times  2  }

\mathrm{Anything\:divided\:by\:1\:gives\:itself}

A =  300 {  \left( 1+0.07  \right)    }^{ 1 \times  2  }

\mathrm{Add\:1\:and\:0.07\:to\:get\:1.07}

A =  300 \times   { 1.07  }^{ 1 \times  2  }

\mathrm{Multiply\:1\:and\:2\:to\:get\:2}

A =  300 \times   { 1.07  }^{ 2  }

\mathrm{Calculate\:1.07\:to\:the\:power\:of\:2\:and\:get\:1.1449}

A =  300 \times  1.1449

\mathrm{Multiply\:300\:and\:1.1449\:to\:get\:343.47}

A =  343.47

So you would have $343.37 at the end of the 2 years.

Look at the chart

\mathrm{Year}\quad	\mathrm{Year\: Interest}\quad	\mathrm{Total\:Interest}\quad	\mathrm{Balance}\\\quad1\quad\quad\quad	$21.00\quad\quad\quad\quad	$21.00\quad\quad\quad\quad	$321.00\\\quad2\quad\quad\quad	$22.47\quad\quad\quad\quad	$43.47\quad\quad\quad\quad	$343.47

Mathematics
Step-by-step answer
P Answered by PhD

For 1 flavor there are 9 topping

Therefore, for 5 different flavors there will be 5*9 choices

No of choices= 5*9

=45 

Mathematics
Step-by-step answer
P Answered by PhD

The solution is in the following image

The solution is in the following image
Mathematics
Step-by-step answer
P Answered by PhD

y=2x+15

where y=Value of coin

x=Age in years

Value of coin after 19 years=2*19+15

=$53

Therefore, Value after 19 years=$53

Mathematics
Step-by-step answer
P Answered by PhD

F=ma

where F=force

m=mass

a=acceleration

Here,

F=4300

a=3.3m/s2

m=F/a

    =4300/3.3

    =1303.03kg

Approximately it is aqual to 1300kg

Mathematics
Step-by-step answer
P Answered by PhD

The solution is given in the image below

The solution is given in the image below
Mathematics
Step-by-step answer
P Answered by PhD

Speed=Distance/time

Here,

distance=15m

time=1sec

speed=15/1=15m/sec

Distance=Speed*time

time=15min=15*60sec=900sec

Distance travelled in 15 min=15*900=13,500m

=13500/1000 km=13.5Km

Mathematics
Step-by-step answer
P Answered by PhD

The wood before starting =12 feet

Left wood=6 feet

Wood used till now=12-6=6 feet

Picture frame built till now= 6/(3/4)

=8 pieces

Therefore, till now 8 pieces have been made.

Mathematics
Step-by-step answer
P Answered by PhD

tip=18% of 75.45

     =18/100 * 75.45 = $13.581

Tip = $13.581

Try asking the Studen AI a question.

It will provide an instant answer!

FREE