MATHEMATICS HIGH SCHOOL

When Lisa and Tom has their first child, they put $7,500 into a savings account that earns 6% compound interest. If Lisa and Tom did not add or remove anything from the savings account, how much interest will they have earned after 4 years?

Answers

Answer 1
Answer:

Answer:

Step-by-step explanation:

We would apply the formula for determining compound interest which is expressed as

A = P(1 + r/n)^nt

Where

A = total amount in the account at the end of t years

r represents the interest rate.

n represents the periodic interval at which it was compounded.

P represents the principal or initial amount deposited

From the information given,

P = $7500

r = 6% = 6/100 = 0.06

Assuming the interest was compounded annually, then

n = 1 because it was compounded once in a year.

t = 4 years

Therefore,

A = 7500(1 + 0.06/1)^1 × 4

A = 7500(1.06)^4

A = $9468.6

The interest that they would have earned after 4 years is

9468.6 - 7500 = $1968.6

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Answers

Answer:

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Step-by-step explanation:

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Amber has 4/5-pound bag of colored sand. She uses 1/2 of the bag for the project. How much sand does she use for the project?

Answers

Answer:

(2)/(5)-pound of sand

Step-by-step explanation:

We have been given that Amber has (4)/(5)-pound bag of colored sand. She uses 1/2 of the bag for the project.

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A student randomly draws a card from a standard deck and checks to see if it is his favorite suit. He then returns the card to the deck, shuffles, and repeats the experiment. He performs the experiments 30 times. Can the probability of drawing his favorite suit be found by using the binomial probability formula? Why or why not?Yes. The events are dependent; however, the 5% guideline can be applied to this situation.
No. The trials are fixed, but the probability of success changes for every trial.
No. The probability of success remains the same for every trial, but the trials are not fixed.
Yes. The outcomes can be classified into two categories, the trials are fixed, and the events are independent.

Answers

Answer:

Yes. The outcomes can be classified into two categories, the trials are fixed, and the events are independent.

Step-by-step explanation:

Hope this helps!!

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Answers

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Answers

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Answers

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