Mathematics
06.05.2021 13:51
204
359
9
Solved by an expert

A trader needs $300000 to improve her business, she deposits $110000 in her savings

A trader needs $300000 to improve her business, she deposits $110000 in her savings account at 5% per annum compound interest. she then adds $50000 to her savings at the end of each year find (a) her total savings after 3 years.
(b)by how much is her savings greater or less than $300000 at the end of the third year​
Show Answers
yasameenakbari
yasameenakbari
4,7(15 marks)

interpret it that there are three payments of 50,000 aside from the current deposit of 110,000

amount after 3 years

= 110,000(1.05)^3 + 50,000( 1.05^3 - 1)/.05

lexiships
lexiships
4,5(19 marks)

You can download answer here

cutt.ly/rzNrBcz

Popular Questions about the subject: Mathematics

First come first served brainiest:)...
Mathematics
30.09.2020 01:33
Sara had 51 stickers and her dad had 13 stickers how many are...
Mathematics
13.11.2020 13:48
Help with this please...
Mathematics
14.06.2022 16:22
What is the result when the number 84 is decreased by 56%? Round...
Mathematics
30.03.2023 21:33
Write your answer as a power 8^9/8^7...
Mathematics
19.04.2020 07:19
–h − 17 = 19 + h h= ?...
Mathematics
06.04.2023 13:22

New questions by subject

Have you succeeded ___ finding a job yet? a) on b) in c) at​...
English
01.10.2021 01:23
7) Find the area of a triangle with a base of 20m and a height...
Mathematics
24.09.2020 09:56
Solve 7 through 13. No Links. Show your work. Pls, answer Asap....
Mathematics
19.10.2022 03:41
What is not a a common material used to make cutting boards...
Health
06.04.2023 08:13
PLEASE HELP,I WIL GIVE BRAINLIEST. A rectangular garden has a...
Mathematics
11.04.2023 22:16
Which equation represents the data in this function table? A....
Mathematics
19.06.2023 23:44
Which of the following graphs is the same as y = log1/2x?...
Mathematics
21.03.2021 04:19
#
#
#
#
# #

We expand our knowledge with many expert answers