Sam invests 1700 in a savings account that pays a nominal annual interest rate of 2.74% Sam makes no further payments or withdrawals from this account

David also invests 1700$ in a savings account that pays an annual rate of r% compounded yearly David makes no further payments or withdrawals from this account fund the value of r so that the amount in David’s account after 10 years will be equal to sams account

Answers

Answer 1

a.) The amount that Sammy will have in his account after 10 years will be= $2,165.8

$2,165.8b.) The value of 'r' required would be = 0.27%

What is interest rate?

Interest rate is defined as the rate at which an individual receives an amount of money from an investment made over a period of time.

The amount invested by Sam(P) = $1700

The interest rate(R) = 2.74%

The time of investment (T) = 10 years

Simple interest = P×T×R/100

= 1700×10×2.74/100

= 46580/100

= $465.80

Therefore, the amount that Sammy will have in his account after 10 years will be = $1700 + $465.80

= $2,165.8.

For David's account interest rate the following is carried out:

The amount invested by Sam(P) = $1700

The interest rate(R) = r%

The time of investment (T) = 10 years

Simple interest (SI) = $465.80

Using the formula for simple interest;

SI = P×T×R/100

Make R the subject of formula;

R = SI×100/P×T

R = 465.80×100/1700×100

R= 46580/170000

R= 0.27%

Learn more about simple interest here:

https://brainly.com/question/25793394

#SPJ1

Complete question:

Sam invests $1700 in a saving account that pays a nominal annual rate of interest of 2.74% compounded half-yearly. Sam makes no further payments to, or withdrawals from, this account. (a) Find the amount that Sam will have in his account after 10 years.

David also invests $1700 in a savings account that plays an annual rate of interest of r%, compounded yearly. David makes no further payments or withdrawals from this account. (b) Find the value of 'r' required so that the amount in David's account after 10 years will be equal to the amount in Sam's account.


Related Questions

Vicky made some purchases at the
Sunflower Market. She bought strawberries
for $3.50, carrots for $2.25 and a bouquet of
flowers for $9.95. If sales tax is 5%, what will
Maria pay altogether?

1. $16.48

2. $15.70

3. $16.49

4. $16.50

Answers

Step-by-step explanation:

Vicky Bought:

Strawberries $3.50

Carrots $2.25

Flowers $9.95

Subtotal $3.50 + $2.25 + $9.95

= $15.70

5% Sales Tax (5% of Subtotal) = 5/100 x $15.70

= $0.785 (will not round off here as it is not the final answer.)

Total = Subtotal + 5% Sales Tax

= $15.70 + $0.785

= $16.485

= $16.49 (rounded off to nearest cent)

a sales clerk wants to make at least $519 . If he makes a base salary of $335 and $10.25 per hour at his part time job how many hours will he have to work?

Answers

Answer:

18 hours at least to reach the goal

Step-by-step explanation:

Well 519 is the lowest objective so lets aim for that

we can make an equation

since base pay is 335 that doesn’t change

We can make x for hours

335+10.25x ≥ 519

SO it can exactly equal or be greater

You’d get 17.95121... and you can’’t work 17.95121 hours so it has to be 18.

Find the area of the shape below

Answers

Answer:

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Question 2
Find the Total Surface Area and volume of the prism below. Round to the nearest hundredth, if necessary.
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Answers

the volume is 2304
the surface area is 1120

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Answer:

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Step-by-step explanation:

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Answer:

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Step-by-step explanation:

Johnathan wants to paint the bottom of his swimming pool the color blue. the swimming pool has a diameter of 50 feet . How many square feet will Johnathan need to paint ?

Answers

Johnathan will need to paint 1,962.5 square feet.

d = 50^r = 25 A = 2
A = (25)2
A = (3.14)(625) A = 1,962.5

Find the scale factor used to go from the actual picture to the scale drawing!

Answers

Answer:

1/3

Step-by-step explanation:

9:6

3:2

9/3 = 3

6/2 = 3

9 x (1/3) =  3

6 x (1/3) = 2

scale factor is 1/3

What is the slope, m, of the line through (-7, -2) and (-6, 7)?

Answers

Answer:

Slope = 9

Step-by-step explanation:

(-7 , -2) ;  x₁ = -7  and  y₁ = -2

(-6 , 7) ;  x₂ = -6  and y₂ = 7

Slope = [tex]\frac{y_{2}-y_{1}}{x_{2}-x_{1}}[/tex]

          [tex]=\frac{7-[-2]}{-6-[-7]}\\\\=\frac{7+2}{-6+7}\\\\=\frac{9}{1}\\\\= 9[/tex]

Solve the system using a matrix,
3x – 2y = 2
6x - 5y = -1

Answers

9514 1404 393

Answer:

  (x, y) = (4, 5)

Step-by-step explanation:

The solution to the matrix equation ...

  [tex]\left[\begin{array}{cc}3&-2\\6&-5\end{array}\right] \left[\begin{array}{c}x\\y\end{array}\right] =\left[\begin{array}{c}2\\-1\end{array}\right][/tex]

is shown in the attachment. It is found by multiplying the equation on the left by the inverse of the coefficient matrix.

  [tex]\left[\begin{array}{c}x\\y\end{array}\right] =\left[\begin{array}{c}4\\5\end{array}\right][/tex]

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Answers

Answer:

Step-by-step explanation:

A can of juice has a radius of 4 inches and a height of 7 inches. What is the volume of the can?
Round your answer to the nearest tenths place.

Answers

Answer:

351.7

Step-by-step explanation:

Volume of a cylinder:

V = πr²h

V = 3.14(4²)(7)

V = 3.14(16)(7)

V = 50.24(7)

V = 351.68

Rounded to the nearest tenth:

351.7

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Answers

Answer:

38 students

Step-by-step explanation:

because 19% of 205 is 38.95, but not fully 39 students, so about 38 students

Ryan has 4 rap songs, 8 country songs, and 2 rock songs.  what is the probability of Ryan picking a rock song or a Pop song

Answers

Answer:

Step-by-step explanation:

Total songs = 8 + 4 + 2 = 14 songs

number of rock songs = 2

Number of rap songs = 4

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Probability of rap songs = 4/14 = 2/7

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Answers

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Round to the nearest tenth.

Answers

Answer:

Y ≈ 59.0°

Step-by-step explanation:

Using the Cosine rule

cosY = [tex]\frac{x^2+z^2-y^2}{2xz}[/tex]

with x = 22, y = 20, z = 18

cosY = [tex]\frac{22^2+18^2-20^2}{2(22)(18)}[/tex]

        = [tex]\frac{484+324-400}{792}[/tex]

        = [tex]\frac{408}{792}[/tex] , then

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Answer:

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Step-by-step explanation:

What's the measure of X

Answers

the triangles are both ratios of each other so the angles are the same

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Answer:

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Step-by-step explanation:

A= ((a+b)/2)*h

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Answer:

y=55 degrees x=125 degrees

Step-by-step explanation:

What is the value of the expression below when y=2 AND z=8?
8y-z

Answers

Answer:

Step-by-step explanation:

Best Company sells personalized mugs for $18 each plus a fixed fee of $26 for shipping and handling for the entire order. The Cup Expert Company sells personalized mugs for $22 each plus a fixed fee for $14 for shipping and tandling for the entire orderHow many personalized mugs would a customer have to purchase for the total cost of each company to be the same?

Answers

Answer:

3

Step-by-step explanation:

Need the Answer for this, provide an explanation.

Answers

Answer:

D) -5x(x² + 2x + 3)

Step-by-step explanation:

-5x³ - 10x² - 15x

Common factor:

-5x

Factored:

-5x(x² + 2x + 3)

Could I get some assistance with this one? I'm a little stuck. Thank you so much! C:

Answers

Answer:

$13.64

Step-by-step explanation:

you need about 1853 sheets of paper which is

1853 ÷ 500, or 3.706 reams

if 1 ream costs $3.68 then 3.706 reams costs 3.706 × 3.68 or $13.64

A baker has 6 pounds of sugar. He divides into 3 containers. He then uses 1 container to bake pies. Which expression shows how many pounds of sugar the baker used?

Answers

Step-by-step explanation:

You have 6 pounds of sugar, when you set it into 3 containers, you will get:

6:3=2 ( pounds per container)

And he used one container for pies it would be:

1 container contains 2 pounds of sugar, so he used 2 pounds of sugar.

Marya has $146 in her checking account . She writes a check for $193 . What is the new balance in her checking account ?

Answers

Answer:

-$47

Step-by-step explanation:

If she has $146 in he account and we take away $193, we are left with -$47, making her in debt.

Solve the right angle . Round decimal answers to the nearest tenth

Answers

9514 1404 393

Answer:

YZ = 8.5∠X = 70.5°∠Z = 19.5°

Step-by-step explanation:

There are a couple of ways to do this. We can find YZ using the Pythagorean theorem, or we can find it using trig functions.

We know from SOH CAH TOA that ...

  Cos = Adjacent/Hypotenuse

  cos(X) = 3/9 = 1/3

  X = arccos(1/3) ≈ 70.5°

Angle Z is the complement of this, so is ...

  Z = 90° -70.5° = 19.5°

__

The length of side YZ can be found from ...

  Sin = Opposite/Hypotenuse

  sin(X) = YZ/XZ

  YZ = XZ·sin(X) = 9·sin(70.5°) ≈ 8.485 ≈ 8.5

__

In summary, ...

  YZ = 8.5; ∠X = 70.5°; ∠Z = 19.5°

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Answers

Question 1) x + 6 = 20
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Question 2) x - 2 = 5
x - 2 + 2 = 5 + 2
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prove why 2,5,8,11 and 14 are not perfect squares?​

Answers

Answer:

because there is an exact square number such as:4,9

Answer:

✓2=1.41421

✓5=2.23607

✓8=2.82842

✓11=3.31662

✓14=3.74166

Step-by-step explanation:

Therefore the numbers are increasing by three so they cant be perfect square

Convert 3y=-x + 5 into slope form

Answers

Answer:

y=-x/3+5/3

Step-by-step explanation:

slope form is y=mx+b

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