Max invest $1000 in a savings account that earns simple 3% interest how long will he have to leave it there in order to make $150 in interest

Answers

Answer 1

Given information:

Max invest $1000 in a savings account that earns simple 3% interest.

Let's suppose the duration he needs to keep his money in the savings account is t years.

The interest rate is given as 3% in decimal form = 0.03

Max invests $1000 on the savings account that earns 3% simple interest.

This implies that the interest he will earn after t years is given by:

Interest (I) = Principal × Rate × Time

I = 1000 × 0.03 × t

I = 30t

From the problem, he wants to earn $150 in interest.

So, 30t = 150

Solving for t:

$$\begin{aligned}30t &= 150 \\t &= \frac{150}{30} \\t &= 5 \;years \end{aligned}$$

Max needs to leave his money in the savings account for 5 years to make $150 in interest.

Therefore, the answer is 5 years.'

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Related Questions

For the past `12` school days, Mai has recorded how long her bus rides to school take in minutes. The times she recorded are shown below. `9`, `12`, `6`, `9`, `10`, `7`, `6`, `12`, `9`, `8`, `10`, `10` Find the mean for Mai's data.

Answers

The mean for Mai's data is 8.9167.

To find the mean of the data given by Mai for the past 12 school days, we need to add all the values together and then divide by the total number of values.

Here is the solution: Given data are: 9, 12, 6, 9, 10, 7, 6, 12, 9, 8, 10, 10

To find: The mean for Mai's data

To calculate the mean, we will add up all the values and then divide by the total number of values.

Mean (average) = sum of values / total number of values

Sum of values = 9 + 12 + 6 + 9 + 10 + 7 + 6 + 12 + 9 + 8 + 10 + 10= 107

Total number of values = 12

Therefore, Mean (average) = sum of values / total number of values

= 107 / 12

= 8.9167 (rounded to four decimal places)

Hence, the mean for Mai's data is 8.9167.

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Which of the following is always a true statement? a. Total employee benefits - job expenses = total employment compensation b. Gross pay total job benefits = total employment compensation c. Gross pay - job expenses = total employment compensation d. Total job benefits - job expenses = total employment compensation Please select the best answer from the choices provided A B C D.

Answers

The correct statement is: c. Gross pay - job expenses = total employment compensation

What is the relationship between gross pay, job expenses, and total employment compensation?

In the context of calculating total employment compensation, the statement in option c is always true. Gross pay refers to the total amount earned by an employee before any deductions or taxes.

The Job expenses are expenses related to performing the job such as travel expenses or necessary tools/equipment. By subtracting the job expenses from the gross pay, we arrive at the total employment compensation which represents the net amount the employee receives after accounting for the expenses associated with their job.

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The size of a computer monitor is given as the length of the screens diagonal d in inches.The equation d=5/6

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Therefore, the size of a computer monitor whose diagonal measures d = 5/6 inches is 5/6 inches.

Most computer monitors range from 19 to 34 inches, measured diagonally from corner to corner. The average user will be happy with 22-24" screens. This range provides enough screen real estate for general productivity tasks and even light multitasking without overcrowding your desktop.

Full HD (1080p) stays fairly sharp on monitors of this size. As they're not too big, you can easily place them in a setup with 2 screens. A 24-inch monitor is also suitab

The size of a computer monitor is given as the length of the screens diagonal d in inches.

The equation d=5/6.

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PLEASE HELP FAST!! WILL GIVE BRAINLIEST! The rectangle ABCD has diagonals that intersect at point O and ABD = 30. Find BC if AC = 16 in

Answers

The length of BC in the rectangle ABCD is 16 units.

To find the length of BC in the rectangle ABCD, we can use the properties of rectangles and the intersecting diagonals.

Let's consider the given information:

AC = 16 (given)

ABD = 30° (given)

In a rectangle, the diagonals are equal in length. Therefore, AO = CO and BO = DO.

Since ABD is a right triangle, we can use trigonometric ratios to find the length of AO. In triangle ABD, the angle ABD is 90°, and we know ABD = 30°. Therefore, the remaining angle BDA is 180° - 90° - 30° = 60°.

Using the trigonometric ratio for a right triangle:

sin(BDA) = AO / AB

sin(60°) = AO / AB

√3 / 2 = AO / AB

Since AB is the length of the diagonal of the rectangle, we can represent it as d:

√3 / 2 = AO / d

Now, we can find AO:

AO = (√3 / 2) * d

Since AO = CO and BO = DO, we can conclude that BO and CO also have lengths of (√3 / 2) * d.

Now, let's consider triangle AOC. We know that AC = 16, and AO = CO = (√3 / 2) * d. We can use the Pythagorean theorem to find OC:

OC^2 = AC^2 - AO^2

OC^2 = 16^2 - [(√3 / 2) * d]^2

OC^2 = 256 - (3/4) * d^2

OC = √(256 - (3/4) * d^2)

Similarly, in triangle BOC, we have BO = (√3 / 2) * d and OC = √(256 - (3/4) * d^2). We can again use the Pythagorean theorem to find BC:

BC^2 = BO^2 + OC^2

BC^2 = [ (√3 / 2) * d ]^2 + [ √(256 - (3/4) * d^2) ]^2

BC^2 = (3/4) * d^2 + 256 - (3/4) * d^2

BC^2 = 256

Taking the square root of both sides:

BC = √256 = 16

Therefore, BC = 16.

So, the length of BC in the rectangle ABCD is 16 units.

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Given circle B.If measure of arc AD = 118 degrees, find the measure of angle DBC.

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The measure of angle DBC is half the measure of its intercepted arc AD. Therefore, if arc AD measures 118 degrees, angle DBC measures 59 degrees.

To find the measure of angle DBC, we need to use the properties of angles formed by intersecting chords and arcs in a circle.

In this case, we are given that the measure of arc AD is 118 degrees. By the Inscribed Angle Theorem, the measure of angle DBC is equal to half the measure of its intercepted arc, which is arc AD.

Therefore, the measure of angle DBC is 118 degrees divided by 2, which is 59 degrees.

Thus, the measure of angle DBC is 59 degrees.

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A marker is randomly selected from a drawer that contains 20 green, 44 orange, and 30 blue markers. Which statement is true? P(blue)≈0. 41 P(green)≈0. 21 P(orange)≈0. 53.

Answers

none of the provided approximations for the probabilities are accurate.To determine which statement is true, we need to calculate the probabilities of selecting each color marker.

Total number of markers = 20 green + 44 orange + 30 blue = 94 markers.

P(blue) = Number of blue markers / Total number of markers = 30 / 94 ≈ 0.319.

P(green) = Number of green markers / Total number of markers = 20 / 94 ≈ 0.213.

P(orange) = Number of orange markers / Total number of markers = 44 / 94 ≈ 0.468.

Based on the calculations, none of the given statements are true. The actual probabilities are approximately:

P(blue) ≈ 0.319,
P(green) ≈ 0.213,
P(orange) ≈ 0.468.

Therefore, none of the provided approximations for the probabilities are accurate.

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What does this quote mean? "O friends, be men; so act that none may feel Ashamed to meet the eyes of other men. Think each one of his children and his wife, His home, his parents, living yet or dead. "

Answers

The quote emphasizes the importance of acting in a way that brings honor and respect, ensuring that one's actions align with societal expectations and moral values. It calls upon individuals to consider the impact of their behavior on their loved ones and their community.

The quote reflects a call for personal responsibility and ethical conduct. By urging individuals to "be men," it does not limit the message to a specific gender but rather encourages everyone to exhibit qualities associated with strength, integrity, and honor. The subsequent line highlights the significance of acting in a manner that preserves one's dignity and integrity, emphasizing the importance of living in a way that would not bring shame or disgrace upon oneself when facing others.

The second paragraph of the quote urges individuals to contemplate the repercussions of their actions on their loved ones and their broader social connections. It prompts individuals to think of their children, spouse, parents, and home, whether they are still alive or have passed away. This appeal to familial and personal relationships emphasizes the interconnectedness of human lives and the responsibility to act in a way that protects and uplifts one's family and community. The quote serves as a reminder that our actions have consequences beyond ourselves and that we should consider the potential impact on those who are closest to us. It encourages individuals to cultivate a sense of empathy, accountability, and social consciousness in their decision-making process.

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You start at (-3, 5). You move left 1 unit and right 8 units. Where do you end?

Answers

The point where you end after moving is (4, 5)

How to determine the point where you end

From the question, we have the following parameters that can be used in our computation:

Start = (-3, 5)

Direction: 1 unit left and 8 units right

using the above as a guide, we have the following:

New point = (-3, 5) + (-1 + 8, 0)

So, we have

New point = (-3 - 1 + 8, 5 + 0)

Evaluate

New point = (4, 5)

Hence, the point where you end is (4, 5)

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a field project superintenint earns an annual salary of 72800

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A field project superintendent earns an annual salary of $72,800. This is a piece of information about the annual salary of a field project superintendent.

A field project superintendent is a person responsible for overseeing and managing construction projects. This position is responsible for ensuring that the construction project is completed on time, within budget, and in accordance with safety and quality standards. This person must have a thorough understanding of construction principles and techniques, as well as the ability to read and interpret blueprints and specifications.

A salary is a fixed amount of compensation paid to an employee for their work. The amount of salary is typically determined by the employee's position, job duties, and level of experience. Salaries are usually paid on a monthly or bi-weekly basis.

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Gabe kept track of the trick-or-treaters who came to his door and found that 1/2 were dressed as ghosts and 2/5 were dressed as witches. What fraction of the trick-or-treaters were dressed as either ghosts or witches?

Answers

The fraction of trick-or-treaters dressed as either ghosts or witches is 9/10.

To find the fraction of trick-or-treaters dressed as either ghosts or witches, we need to add the fractions representing the proportion of ghosts and witches.

Given that 1/2 of the trick-or-treaters were dressed as ghosts and 2/5 were dressed as witches, we can add these fractions together:

1/2 + 2/5

To add these fractions, we need a common denominator. The least common multiple of 2 and 5 is 10.

Converting the fractions to have a common denominator of 10:

(1/2) * (5/5) + (2/5) * (2/2)

5/10 + 4/10

Now, we can add the fractions:

5/10 + 4/10 = 9/10

Therefore, the fraction of trick-or-treaters dressed as either ghosts or witches is 9/10.

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