Your Aunt will give your $1,ooo if you invest it for 10 years in an account that pays 20% interest compounded annually. That is, at the end end of each year your interest will be added to your account and invested at 20%.
What will your account be worth at the end of 10 years? How much interest will you earn during the 10t year?
(1+r)^n = where r is the interest stated as a decimal (in this case it would be 0.20) and n is the number of years, will give you the value of $1. Multiply that by the number of dollars to be invested. I hope this helps. Post your work if you have trouble.
3=6-42/
wats the answer for -3u(5u+7)=-2
jennie, you should post this as a separate question, otherwise we'll miss it.
We have -3u(5u+7)=-2
If you distribute the -3u over the other term we get
-15u^2-21u = -2
Now bring the -2 to the left side
-15u^2-21u+2=0
Now we need to find the roots of this equation. We can either try to factor the equation of we can use the quadratic formula. I think the Q.F is the way to go here.
we have x= 21/(2*-15) +/-sqrt(21^2 - 4(-15)2))/(2*-15)
Thus x=-21/30 -/+ sqrt(561)/30
or x = (-21 +/-sqrt(561))/30 if I did the arithmetic correctly.
I'll let you finish the arithmetic and verify the solution.
I don't get it
To calculate the worth of your account at the end of 10 years, we can use the formula for compound interest:
A = P * (1 + r)^n
Where:
A = Total amount after n years (in this case, 10 years)
P = Principal amount (initial investment) - $1,000
r = Annual interest rate (as a decimal) - 0.20
n = Number of years - 10
Plugging in the values, we get:
A = 1000 * (1 + 0.20)^10
To calculate the interest earned during the 10th year, we can subtract the worth of the account at the end of the 9th year from the account's worth at the end of the 10th year.
For example, to find the worth of the account at the end of the 9th year, we can use the same formula with n = 9:
A(9) = 1000 * (1 + 0.20)^9
Then, to calculate the interest earned during the 10th year:
Interest = A - A(9)
Substituting the values and performing the calculations will give you the final answer.
Please let me know if you need any further assistance or have any other questions.