stop2dance3l

2021-12-27

Clare made $160 babysitting last summer. She put the money in a savings account that pays 3% interest per year. If Clare doesnt

SlabydouluS62

Skilled2021-12-28Added 52 answers

Step 1

Given

Initial amount: $160

$rate=3\mathrm{\%}$ interest per year

Step 2

Final amount after n years is given by

$A={A}_{0}{\left(1.03\right)}^{n}$

Where

$A=$ final amount

${A}_{0}=$ initial amount

$n=$ no of years

$A=160{\left(1.03\right)}^{n}$ (1)

Step 3

a) After 5 years

Put$n=5$ in the expression (1)

$A=160{\left(1.03\right)}^{n}$

$A=160{\left(1.03\right)}^{5}$

$A=160\left(1.1592740743\right)$

$A=185.483851$

$A\approx 185.48$

Step 4

b) Expression for the amount of money Clare would have after 30 years is

$A=160{\left(1.03\right)}^{30}$

Given

Initial amount: $160

Step 2

Final amount after n years is given by

Where

Step 3

a) After 5 years

Put

Step 4

b) Expression for the amount of money Clare would have after 30 years is

psor32

Beginner2021-12-29Added 33 answers

Solution

Clare made $160 babysitting last summer. She put the money in a saving account that pays 3% interest per year.

It is a condition of compound interest with annually compounding.

We know that,

$P}^{\prime}=P{(1+r)}^{n$

Where,

${P}^{\prime}=$ the money she will be getting after n years,

$P=\text{the money she deposited}=\mathrm{\$}160}$

$r=\text{annual rate of interest}=3\mathrm{\%}=0.03$

$n=\text{number of years}$

$\Rightarrow {P}^{\prime}=160{(1+0.03)}^{1}=160\times 1.03=\mathrm{\$}164.8}$

This is why when she multiply 1.03 with her current amount, she gets the amount she will be getting after one year.

Money she will be getting after 2 year

Taking current balance as $164.8 as at the end of one year it will be the base amount on which interest will be calculated,

$\Rightarrow {P}^{\prime}=168.8{(1+0.03)}^{1}=168.8\times 1.03=\mathrm{\$}169.74}$

Again by multiplying 1.03 she can get the amount of money she will be getting next year.

Money she will be getting after 5 year

$P}^{\prime}=\text{the money she will be getting after 5 years$ ,

$P=\text{the money she deposited}=\mathrm{\$}160}$

$r=\text{annual rate of interest}=3\mathrm{\%}=0.03$

$n=5$

Putting the values,

$\Rightarrow {P}^{\prime}=160{(1+0.03)}^{5}=160\times 1.1593=\mathrm{\$}185.49}$

She will be getting $185.49 after 5 years.

We can also do this by calculating the amount of money she will be getting at the end of each year and multiplying it with 1.03 in order to get the amount of money she will be getting the next year.

Expression for the amount of money Clare would have after 30 years if she never withdraws money from the account

$\Rightarrow {P}^{\prime}=160{(1+0.03)}^{3}0$

This is the expression for the desired condition.

Clare made $160 babysitting last summer. She put the money in a saving account that pays 3% interest per year.

It is a condition of compound interest with annually compounding.

We know that,

Where,

This is why when she multiply 1.03 with her current amount, she gets the amount she will be getting after one year.

Money she will be getting after 2 year

Taking current balance as $164.8 as at the end of one year it will be the base amount on which interest will be calculated,

Again by multiplying 1.03 she can get the amount of money she will be getting next year.

Money she will be getting after 5 year

Putting the values,

She will be getting $185.49 after 5 years.

We can also do this by calculating the amount of money she will be getting at the end of each year and multiplying it with 1.03 in order to get the amount of money she will be getting the next year.

Expression for the amount of money Clare would have after 30 years if she never withdraws money from the account

This is the expression for the desired condition.

karton

Expert2022-01-04Added 613 answers

Answer:
Given, amount(A)=$160
ate(r)=3%
Since it is given that by multiplying current ammount by 1.03 we can get amount she will have next year means that
After one year
Amount =160 * 1.03
=$164.80 (current amount after one year)
After two years
Amount P=164.80 * 1.03
=$169.74
Therefore, amount after 2 years is $169.74

Find the volume V of the described solid S

A cap of a sphere with radius r and height h.

V=??

Whether each of these functions is a bijection from R to R.

a) $f(x)=-3x+4$

b) $f\left(x\right)=-3{x}^{2}+7$

c) $f(x)=\frac{x+1}{x+2}$

?

$d)f\left(x\right)={x}^{5}+1$In how many different orders can five runners finish a race if no ties are allowed???

State which of the following are linear functions?

a.$f(x)=3$

b.$g(x)=5-2x$

c.$h\left(x\right)=\frac{2}{x}+3$

d.$t(x)=5(x-2)$ Three ounces of cinnamon costs $2.40. If there are 16 ounces in 1 pound, how much does cinnamon cost per pound?

A square is also a

A)Rhombus;

B)Parallelogram;

C)Kite;

D)none of theseWhat is the order of the numbers from least to greatest.

$A=1.5\times {10}^{3}$,

$B=1.4\times {10}^{-1}$,

$C=2\times {10}^{3}$,

$D=1.4\times {10}^{-2}$Write the numerical value of $1.75\times {10}^{-3}$

Solve for y. 2y - 3 = 9

A)5;

B)4;

C)6;

D)3How to graph $y=\frac{1}{2}x-1$?

How to graph $y=2x+1$ using a table?

simplify $\sqrt{257}$

How to find the vertex of the parabola by completing the square ${x}^{2}-6x+8=y$?

There are 60 minutes in an hour. How many minutes are there in a day (24 hours)?

Write 18 thousand in scientific notation.