The balance in a bank account is given by the formula B=120x1.02t. Here B is the balance in dollars t years since the start of 2012.  What was the balance at the start of 2012?  What is the annual interest rate? **note: the x does not represent a variable. In this case it means multiplication.

Q: Sam invests $4,000 in an account that compounds interest continuously and earns 5.5%. How long will…

A: formula for compound interest is  A=Pertwhere A is final amountP is initial amount r is rate t is…

Q: find interest=you have agreed to borrow $50 and after 6 months pay back $58.

A: Given that you have agreed to borrow $50 and after 6 months pay back $58.we have to find the…

Q: ½ life of C-14 is 5700 years. Traces of wood located in a forest cabin found to contain 5% of the…

A:

Q: Dr. Doofenshmirtz built an -inator for $52,308. Each year that he has the-inator the value of it…

A: Dr. Doofenshmirtz built an -inator for $52,308. Each year that he has the -inator the value of it…

Q: Find the interest rate for a principal of $8581 and charged $40651 in interest for 18 years.   The…

A: The objective of this question is to find the interest rate for a given principal amount, interest…

Q: A web designer that pays an hourly wage of $35. The job assumes five 8-hour days per week. for 48…

A: To determine the annual income of the designer, first we have to calculate the weekly income of the…

Q: $350 is borrowed at a rate of 2.5% simple interest for 3 years. How much interest will be paid?

A:

Q: A bank account increases the amount of money in the account by 4% each year. Initally, $1,500 is…

A: Recall: Formula for Future value     FV=PV1+rn We have, PV=$ 1,500, r=4%=0.04, n=5 years

Q: Dexter deposited $6,300 into a savings account that earns 2.60% simple interest per year. How much…

A: Given that  Dexter deposited $6,300 into a savings account   that earns 2.60% simple interest per…

Q: $3000 grows to $3606 in 5 years with annual compunding. Find the interest rate?

A: Recall the following fact.

Q: Logan starts an IRA (Individual Retirement Account) at the age of 30 to save for retirement. He…

A: Given that Logan started an IRA (Individual Retirement Account) at the age of to save for…

Q: A couple has $25,000 in their retirement savings today. How many years do they have to save at 6%,…

A: Fixed amout that he have in starting = 25000 Let for x years he invest so, amount taken on 25000…

Q: ound 296,259 to the ten-thousands place.

A: 296259 is equal to 29.6259 ten thousand

Q: An investment pays simple interest, and doubles in 13 years. What is the interest rate? Answer =

A: Formula for simple interest is :  I = P×R×T where ,   P = Principal  Amount  R = Annual rate of…

Q: Find the amount due if $600 is borrowed for 9 months at 8% simple interest. Amount = $ %3D

A:

Q: Which expression shows the value of a $ 2500 investment after it has grown by 4.5% per year for 12…

A: