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anonymous

  • 5 years ago

PLEASE HELP. VERY DESPERATE suppose you deposit $1,000 in a savings account that pays interest at an annual rate no money is added or withdrawn from the account.

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  1. anonymous
    • 5 years ago
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    Where is the question?

  2. anonymous
    • 5 years ago
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    what will the amount be after 4 years

  3. anonymous
    • 5 years ago
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    You can use the formula for a simple interest rate which is interest = principal * rate * time You will need to know the interest rate though.

  4. anonymous
    • 5 years ago
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    the interest rate is 6%

  5. anonymous
    • 5 years ago
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    I = 1,000 * 0.06 * 4 = 240 so there will be $1,240 after 4 years.

  6. anonymous
    • 5 years ago
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    what about after 17 years?

  7. anonymous
    • 5 years ago
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    Just substitute 17 in for 4.

  8. anonymous
    • 5 years ago
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    i dont get it? :(

  9. anonymous
    • 5 years ago
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    You have the initial amount which is called the principal. You then multiply that by the amount of interest earned, 6%, converted into decimal form which is 0.06. Then multiply that by the amount of time.

  10. anonymous
    • 5 years ago
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    For 17 years it would be I = 1000 * 0.06 * 17 = 1020 Add that to the principal and you have your total after 17 years. 1020+ 1000 = 2020

  11. anonymous
    • 5 years ago
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    for the account to contain 1,500 how long would it take?

  12. anonymous
    • 5 years ago
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    Solve this equation: 1000 * 0.06 * x = 1,500

  13. anonymous
    • 5 years ago
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    type a whole number

  14. anonymous
    • 5 years ago
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    8 years

  15. anonymous
    • 5 years ago
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    what about 2,000

  16. anonymous
    • 5 years ago
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    16 years 8 months

  17. anonymous
    • 5 years ago
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    kk thanks!:)

  18. anonymous
    • 5 years ago
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    ps. YOUR A flutterING IDIOT WHO MADE ME GET IT WRONG

  19. anonymous
    • 5 years ago
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    READ A MATH BOOK IDIOT

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