anonymous
  • anonymous
please help with 6th grade math? I don't understand this at all!
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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schrodinger
  • schrodinger
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
anonymous
  • anonymous
ok what can i do
anonymous
  • anonymous
@Michele_Laino
anonymous
  • anonymous
Evergreen bank offers 5% simple interest on deposits. Pot O' Gold bank offers 4% interest compounded annually. Patrick deposited $2000 into each bank to remain 3 years. A. Find the final balance at Evergreen Bank. Show All Your Work

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anonymous
  • anonymous
I have a b and c too i just wanna do on at a time
anonymous
  • anonymous
@ganeshie8
anonymous
  • anonymous
@Kainui
anonymous
  • anonymous
For simple interest, the formula is I=PRT/100 where P= Present value R= Interest rate T= Time ( no. of years) I= Interest So, for Evergreen Bank, the interest would be I=(2000×5×3)/100=$300 The final balance would be 2000+300=$2300
anonymous
  • anonymous
For compound interest, the formula is, FV=P×(1+r)n here FV= Future value P= Present value r= Annual interest rate ( as a decimal) n= no. of years So, for Pot O' Gold bank, the final balance would be: FV=2000×(1+0.04)3=$2249.728
anonymous
  • anonymous
ok thx
anonymous
  • anonymous
no prob you are welcome
anonymous
  • anonymous
i know how to do the rest now thanks :D
anonymous
  • anonymous
ok anything else just tag me and i will do my best to help answer

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