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expeople1 [14]
2 years ago
12

Rita promises her daughter on her 12th birthday that she will give her $12,000 for college on her 18th birthday. How much does R

ita need to put in the bank now if the interest rate on her account is 12% per year?
Mathematics
2 answers:
almond37 [142]2 years ago
6 0

Answer:

She should invest 6976.74 $ principal on daughter's 12th birthday.

Explanation:

  We have  I = prt, where I represents simple interest, p represents principal, r represents interest rate, and t represents time in years.

Here p + I = 12,000 $

   So, I = 12000-p

 Interest rate r = 12% =0.12

 Number of years = 18 - 12 = 6 years.

Substituting

   12000-p = p x 0.12 x 6

  p + 0.72 p = 12000

  1.72 p = 12000

   p = 6976.74 $

So, she should invest 6976.74 $ principal on daughter's 12th birthday.

Nady [450]2 years ago
6 0

Answer:

$6,079.58 is the answer


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Katie invested $33,750 at 11.17% compounded continuously.
ser-zykov [4K]

Answer:

Katie's account balance in 10 years will be $3,769,875

Step-by-step explanation:

you multiply the amount of money you invest by the percentage, and the amount of years.

EX: $33,750 × 11.17% × 10= $3,769,875

5 0
1 year ago
Emily and a friend bought two tickets to see a soccer game. Each ticket cost $8.25. The friends paid a total of $24.40, which in
Yakvenalex [24]

Answer:

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8.25 multiplied by 2 is 16.50. so 24.40 minus 16.50 is 7.90

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1 year ago
Find the volume of a pyramid with a square base, where the perimeter of the base is 5.1 in 5.1 in and the height of the pyramid
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Step-by-step explanation:

PARA ENCONTRAR CUÁNTO MIDE CAD LADO SE DIVIDE EL PERÍMETRO

ENTRE 4 LADOS

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V = 4(1.28 in)(2.55 in)(2.7 in)/6 = 5.9 in^{3}

6 0
2 years ago
Congratulations you received a score of 3.4 on your annual review . Merit increases are given out starting at .5% at a score of
defon
<span>Using the formula above, your merit increase will be 2.5%. You received a score of 3.4 on your annual review. Since the merit increase model is 0.5% salary increase at a score of 2.6, with an additional 1% for every .4 points above that baseline, you get 2.5%, which is the baseline of 0.5% + 2% for the 0.8 points you scored above that baseline.</span>
6 0
1 year ago
Mrs jones has ducks and sheep on her farm. The animals have a total of 6 heads and 16 legs. How many ducks does mrs jones have?
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