James and Terry open a savings account that has a 2.75% annual interest rate, compounded monthly. They deposit $500 into the acc
1 answer:
Answer:
<h2>Option A is the answer(here the answer is calculated taking the whole value, without approximating it to a nearest value)</h2>Step-by-step explanation:
Annual interest rate is 2.75%. Hence, the monthly interest rate is
The amount will be compounded times.
Every month they deposits $500.
In the first month that deposited $500 will be compounded 240 times.
It will be
In the second month $500 will be deposited again, this time it will be compounded 239 times.
It will give
Hence, the total after 20 years will be
You might be interested in
Answer:
The amount of stock for which both brokers would charge the same commission is $2500.
Step-by-step explanation:
i) Let the amount of stock to be traded be worth $x
ii) therefore for both the brokers to charge the same commission we can write
1% of x = $25 0.01
x = 25
x =
The amount of stock for which both brokers would charge the same commission is $2500.
<h2>Therefore he took 40 gram of 
type solution and 10 gram of 
type solution.</h2>
Step-by-step explanation:
Given that , A pharmacist 13% alcohol solution another 18% alcohol solution .
Let he took x gram solution of type solution
and he took (50-x) gram of type solution.
Total amount of alcohol = gram
Total amount of solution = 50 gram
According to problem
⇔
⇔
⇔- 5x= 700 - 900
⇔5x = 200
⇔x = 40 gram
Therefore he took 40 gram of type solution and (50 -40)gram = 10 gram of
type solution.