Mark has invested $300 at age 16 into a money market account earning 6%. How many times will Mark's investment double before age 52? What will his investment be worth? What would Mark's investment be if he had invested at age 28?

A.3times

B.$1214.68

Step-by-step Explanation

A

Using compound interest formula

A=P(1+I)^n

A is the amount

P is the principal=$300

I is the interest=0.06

n is the time ( between 52 and 16years)=36years

A=300(1+0.06)^36

A=$2444.175

Which means 300 would have become

$2444.175 which is 8 folds.

That means it would have doubled 3times(2×2×2) at age of 52.

B. The time would change to (52-28)=24

Using compound interest formula

A=300(1+0.06)^24

A=$1214.68

Therefore his investment would have been $1214.68.

fa tha first one you gonna add y to both sides

it look like this

x-y+y=6+y

x=y+6

therefore your answer is

x =y+6

fa tha second one

you gonna flip tha equation

it gonna look like x-4y=y

then add 4 to both sides

it gonna look like tha

x-4 +4 =y +4

so therefore tha answer is x=y+4

step-by-step explanation:

rick has $1400 and sally has $1500

step-by-step explanation:

to find amount of money rick has after 10 years :

principal = $1000 , time = 10 years , rate = 4% annually

to find amount of money sally has after 10 years :

her friend gives to pay her $50 per year, therefore money she has after 10 years = 50 × 10 = $500

also, sally gets $1000 after 10 years,

therefore, total amount of money sally has after 10 years = 500 + 1000 = $1500

so, after 10 years : rick has $1400 and sally has $1500