Georgie put $500 in her savings account, earning interest at a rate of 4% each year. She did not make any more deposits or withdrawals. a) How much money was in the account after one year? b) How much money was in the account after 4 years? c) Was the amount of money earned in interest the same or different each year?

Answers

Answer 1

Answer:

a) $520

b) $580

c) Interest amount is same each year

Step-by-step explanation:

Given - Georgie put $500 in her savings account, earning interest at a rate of 4% each year. She did not make any more deposits or withdrawals.

To find - a) How much money was in the account after one year?

              b) How much money was in the account after 4 years?

              c) Was the amount of money earned in interest the same or different each year?

Proof -

Here given that,

Principal amount = $500

rate of interest = 4% = 4/100 = 0.04

Now,

a)

Amount =  P [ 1 + RT ]

             = 500 [ 1 + 0.04(1)]

             = 500 [ 1 + 0.04] = 520

⇒Amount = $520

b)

Amount =  P [ 1 + RT ]

             = 500 [ 1 + 0.04(4)]

             = 500 [ 1 + 0.16] = 580

⇒Amount = $580

c)

In 2nd year,

Amount =  P [ 1 + RT ]

             = 500 [ 1 + 0.04(2)]

             = 500 [ 1 + 0.08] = 540

⇒Amount = $540

Now,

Interest in 1st year = 520 - 500 = 20

Interest in 2nd year = 540 - 520 = 20

So,

The interest amount  is same each year


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Answers

Answer:

I got this answer right its 56

Step-by-step explanation:

I got this question right

Interpreting the Venn diagram given, the number of males with brown eyes or brown hair can be deduced to be 74

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Therefore, 74 males have brown eyes or brown hairs

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————————
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