Georgie put $500 in her savings account, earning interest at a rate of 4% each year. She did not make any more deposits or withdrawals. a) How much money was in the account after one year? b) How much money was in the account after 4 years? c) Was the amount of money earned in interest the same or different each year?

Answers

Answer 1

Answer:

a) $520

b) $580

c) Interest amount is same each year

Step-by-step explanation:

Given - Georgie put $500 in her savings account, earning interest at a rate of 4% each year. She did not make any more deposits or withdrawals.

To find - a) How much money was in the account after one year?

              b) How much money was in the account after 4 years?

              c) Was the amount of money earned in interest the same or different each year?

Proof -

Here given that,

Principal amount = $500

rate of interest = 4% = 4/100 = 0.04

Now,

a)

Amount =  P [ 1 + RT ]

             = 500 [ 1 + 0.04(1)]

             = 500 [ 1 + 0.04] = 520

⇒Amount = $520

b)

Amount =  P [ 1 + RT ]

             = 500 [ 1 + 0.04(4)]

             = 500 [ 1 + 0.16] = 580

⇒Amount = $580

c)

In 2nd year,

Amount =  P [ 1 + RT ]

             = 500 [ 1 + 0.04(2)]

             = 500 [ 1 + 0.08] = 540

⇒Amount = $540

Now,

Interest in 1st year = 520 - 500 = 20

Interest in 2nd year = 540 - 520 = 20

So,

The interest amount  is same each year


Related Questions

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Answer:

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Answer:

one solution (-4, -1)

Step-by-step explanation:

I hope this helps :)

(-4,-1) that’s the correct answer

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Answer:

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Volume Real World Scenarios:

1. the area of the base of a cylinder is 150 square inches. if the volume of the cylinder is 1,050 in.3, what is the height of the cylinder?

2. the volume of a cylinder is 942 cubic feet. if the height of the cylinder is 12 feet, what is the radius of the cylinder?

3. drew and beau both have cylindrical water bottles. drew’s water bottle has a diameter of 6 inches and a height of 7 inches. beau’s water bottle has a diameter of 4 inches and a height of 9 inches. who’s water bottle holds more water, and how much more water does it hold?

4. isabella constructed a cylindrical vase that has a volume of 63 cubic centimeters. jason constructed a cone that has the same height and the same radius as isabella’s cylinder. what is the volume of jason’s cone?

5. a cone has a volume of 942 cubic inches and a height of 9 inches. what is the radius of the cone?

6. tess gets a snow cone shaped container. the container has a diameter of 3 inches and a height of 5 inches. if the snow cone costs $0.20 per cubic inch, how much would her snow cone cost if the container is filled to the top?

7. a sphere has a volume of 288 π π in3. find the radius of the sphere.

8. jasmine is decorating her christmas tree with ornaments shaped like spheres. each ornament has a radius of 3 inches. if the ornaments are filled with glitter, how many total cubic inches of glitter are contained in the ornament?

Answers

Using the area formula, the height of the cylinder is found to be approximately 7.87 inches.

What is area?

An object's area is how much space it takes up in two dimensions. It is the measurement of the quantity of unit squares that completely cover the surface of a closed figure.

Use the formula for the volume of a cylinder to relate the radius, height, and volume of the cylinder -

V = πr²h

Where V is the volume, r is the radius, and h is the height of the cylinder.

It is given that the area of the base of the cylinder is 150 square inches.

Since the base of a cylinder is a circle, the area of the base is given by -

A = πr²

Where A is the area of the base and r is the radius.

Solving for r -

r² = A/π = 150/π

Use the given volume and radius to solve for the height -

V = πr²h

1050 = π(150/π)²h

h ≈ 7.87 inches

Therefore, the height is 7.87 inches.

To learn more about area from the given link

https://brainly.com/question/25292087

#SPJ1

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Answers

Answer:

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Step-by-step explanation:

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Answer:

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Step-by-step explanation:

because it's a 60 30 right triangle. and you have to leave your answer in radical form.

Factor the following expression -4n+2w-16

Answers

Answer:

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Step-by-step explanation: hoped I helped

Answer:

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Step-by-step explanation:

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Answers

-8x-10=4x+14
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Answer:

CD= 9

Step-by-step explanation:

AD and CD are the same length. The length of AD is 9. So the length of CD will also be 9. I hope that helps.

PLEASE HELP
a swimming pool is the shape of a rectangular prism. It holds 1440 cubic feet of water. If the base measures 15ft by 12ft, then how deep is the pool

Answers

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Answer:

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Answer:

4,000

_______

*rate this answer and say thanks please!

Find the length of AB

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Answer:

B 25.2

Step-by-step explanation:

AB = AC - BC

= 51.8 - 26.6 = 25.2

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Answers

Answer:

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Step-by-step explanation:

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Answers

Answer:

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Click image if helpful

Answers

I think it’s a 81/2m^6
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You rewrite the expression without the parenthesis

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Then you calculate the product 81 and 1/2

81 * 1/2 = 81/2m^6

Then that’s your answer :)

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Answers

Answer:

y = 4/5x

Step-by-step explanation:

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Slope:

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74


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34

Answers

Answer:

I got this answer right its 56

Step-by-step explanation:

I got this question right

Interpreting the Venn diagram given, the number of males with brown eyes or brown hair can be deduced to be 74

Number with brown hairs = 34 Number with brown eyes = 22Number with both brown hairs and eyes = 18

Number with brown eyes or brown hairs :

Brown eyes + Brown hairs + Both brown hairs and brown eyes

(34 + 22 + 18) = 74

Therefore, 74 males have brown eyes or brown hairs

Learn more : https://brainly.com/question/17225268

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Answers

Answer:

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Step-by-step explanation

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y = square root x

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Answers

Answer:

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dome7w and 28 more users found this answer helpful

Step-by-step explanation:

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Answers

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Answers

Answer:

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Step-by-step explanation:

We have the summation from n = 1 to n = ∞, for:

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In our case, we can rewrite our summation as:

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You can see that i changed the limits for n, this does not really matter because we are summing between a number and infinity, the only thing you need to take care is that now the power is n, instead of (n - 1)

Then we have r = (1/2) which is clearly smaller than 1.

then (1/2)

Then this summation is equal to:

3*∑ (1/2)^n = 3*( 1/(1 - 1/2)) = 3*( 1/( 2/2 - 1/2)) = 3*( 1/(1/2)) = 3*2 = 6

3*∑ (1/2)^n = 6

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Answers

Answer:

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Step-by-step explanation:

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Answers

Answer:

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all parallelograms are not square

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I am gonna go C I am not completely sure but it is most likely to be the right one
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