radomes.openskiesproject.org
kraft07 kraft07
  • 25-01-2017
  • Mathematics
Answered

If the interest rate at the bank for a savings account is 0.03%, how much money would you need to leave in the account for one year in order to earn $10 in interest?
$500$1,500$8,000Over $30,000

Verified Answer :

scme1702
scme1702 scme1702
  • 01-02-2017

Let x be the initial deposited amount.
x + 10 will be the final amount

x + 10 = x(1.0003)
The initial amount will not be 0

x/x + 10/x = x(1.0003) / x
1 + 10/x = 1.0003
10/x = 0.0003
x = $33,333.33

You would need to deposit over $30,000

Answer Link

Related Questions

How did Americas wartime experience underline the need for another national bank
Which number is between 05 and 89 A2536 B13 C2224 D724
Which direction does air flow within a cyclone a Air rises b Air sinks c Air flows laterally d Air does not move in a cyclone
Dan is 12 in taller than jayuse x for jays heightwhich expression shows dans height
What was Thomas Jeffersons opinion of the French Revolution He admired the revolutions principles B He was suspicious of the leaders of the revolution C He felt
Rewrite the following linear equation in slopeintercept form Write your answer with no spaces y24x3
what is the source of materials for volcanoes that erupt in both ways how do you know 10 points
can anyone help me its so urgent
What are some historical events that contributed to Army ROTC How is JROTC different today than 100 years ago What JROTC will be like 100 years from today
me ayudan por favor