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Lynna [10]
2 years ago
5

Uta invests $345 into a simple interest investment account that pays interest at a rate of 9% a year. After several years, she w

ithdraws her balance of $531.30. Using the formula l=Prt, how many years was her money invested? 4 years 5 years 6 years 7 years
Mathematics
2 answers:
Tasya [4]2 years ago
6 0
The answer is six years
kap26 [50]2 years ago
3 0

Answer:

6\ years

Step-by-step explanation:

we know that  

The simple interest formula is equal to  

I=P(rt)  

where  

I is the interest amount  

P is the Principal amount of money to be invested  

r is the rate of interest  

t is Number of Time Periods  

in this problem we have  

t=?\ years\\ I=\$531.30-\$345=\$186.3\\ P=\$345\\r=0.09  

substitute in the formula above  

\$186.3=\$345(0.09t)  

t=186.3/(345*0.09)=6\ years

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Rob is making a scale model of the Solar System on the school field. He wants the distance from the Sun to Jupiter to be 8 metre
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Answer:

1 : 9.75 * 10⁷

Step-by-step explanation:

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2 years ago
Edwin Edwards and Karen Davis owned EEE, Inc., which owned three convenience stores, all of which sold gasoline. Reid Ellis deli
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Question Completion:

Note: This is a Law question, not Mathematics.

Answer:

Decision:

Edwards and Davis are not personally liable for the debts of EEE, Inc.

Step-by-step explanation:

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2 years ago
How much money, as a one-time deposit, PV, would you need to deposit into an account that earns 1.5% compounded monthly to earn
Karolina [17]

Answer:

The amount needed as a one-time deposit to earn $7,500 in 3 years is <em>$4388.17</em>

Step-by-step explanation:

<u>Basic Finance Formulas </u>

One of the most-used formulas to compute present and future values is

FV=PV(1+r)^{n}

Where FV is the future value, PV is the present value, r is the interest rate and n is the number of periods. It's vital to keep in mind that r and n must be referred to the same compounded time, e.g. r is compounded monthly and n is expressed in months

The question requires to compute the PV needed as a one-time deposit to earn a future value of $7,500 in 3 years at a 1.5% rate compounded monthly.

FV=7,500

r=1.5%=0.015

n=3*12=36 months

We converted n to months because r is compounded monthly . The formula

FV=PV(1+r)^{n}

must be managed to make PV isolated

PV=FV(1+r)^{-n}

PV=7,500(1+0.015)^{-36}

PV=\$4388.17

Answer: The amount needed as a one-time deposit to earn $7,500 in 3 years is $4388.17

3 0
2 years ago
8 persons attended an interview at a company where each person can be either selected or rejected. find the number of ways of an
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2 possibilities for each person, for 8 people
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