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29.11.2020 •
Mathematics
Laura invests $3600 in a savings account for 2 years. The account pays 3.52% compound interest per annum. Laura has to pay 40% tax on the interest earned each year. The tax is taken from the account at the end of each year. How much is in the account at the end of 2 years?
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Ответ:
$3753.64
Step-by-step explanation:
Initial amount = $3600
Interest rate = 3.52%
n = 1 (once in a year)
Time = 1 years
No of years = 2
Compound interest
A =![P(1 + \frac{r}{n} )^n*t](/tpl/images/0932/5973/93a2a.png)
A = 3600(1 + 0.352/1) ^1*1= $3726.72
Interest earned = 3726.72 - 3600= $126.72
Tax = 40% of the interest earned=
= $50.69 (This amount is deducted from interest )
Net interest earned after 1 year = 126.72 - 50.69= $76
Balance after 1 year = $3600 + $76= $3676
Similarly for the 2nd year
Compound interest
A =![P(1 + \frac{r}{n} )^n*t](/tpl/images/0932/5973/93a2a.png)
A = 3676( 1+0.0352/1)^1*1= 3676(1.0352)
= $3805.4
Interest earned = 3805.4 - 3676= $129.4
Tax == $51.76
Net interest earned =129.4 - 51.76= $77.64
Net balance after 2nd year = 3676+ 77.64= $3753.64
Ответ:
Step-by-step explanation:
Angle θ is in standard position and (4,4) is a point on the terminal side of θ.
Now, secant is the inverse of cosine.
Therefore: