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anonymous

  • one year ago

If you invest $2,000 today in a bank that gives you a 4 percent annual interest rate, which of these items can you buy in seven years? A) A home theater system worth $3,000 B) A designer dress worth $2,700 C) A mountain bike worth $2,500

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  1. anonymous
    • one year ago
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    1any one of the three 2 A and C both 3 B and C both

  2. jigglypuff314
    • one year ago
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    There is this equation, A = P(1+r)^(t) Where A is the ending amount P is the starting amount r is the rate and t is the number of years we can plug in P = 2000 r = 0.04 and t = 7 into this equation and get A = 2000(1.04)^(7) now if you plug that into your calculator, that will be how much money you will have after 7 years the value of the items you can purchase will have to be less than that number I hope this helped :)

  3. anonymous
    • one year ago
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    @jigglypuff314 This is what I got for my final answer /_^ 2631.86355

  4. UsukiDoll
    • one year ago
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    although that's correct let's clean it up...

  5. UsukiDoll
    • one year ago
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    you have way too many decimal places most items for sale at that amount are listed as 1000.00

  6. anonymous
    • one year ago
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    @UsukiDoll Your right so its either B or C

  7. UsukiDoll
    • one year ago
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    O_O well for one of the items... you need to pay the difference

  8. UsukiDoll
    • one year ago
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    sigh...interest doesn't give that much these days T_T

  9. jigglypuff314
    • one year ago
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    you can only for something if you *have* more money than the item's price (my grammar has failed me, I apologize)

  10. UsukiDoll
    • one year ago
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    you have $2631.86 and you can only use that money

  11. UsukiDoll
    • one year ago
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    no credit cards xD

  12. anonymous
    • one year ago
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    @jigglypuff314 @UsukiDoll Thank you guys <3 ur the best haha

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