What is the amount of interest of 75,000 at 3.45% per year, at the end of 12 years and 6 months?

Name: Solved: What is the amount of interest of 75,000 at 3.45% per year, at the end of 12 years and 6 months? - MathMaster
Brand: MathMaster
Rating: 4.9 (121 reviews)

121

likes

605 views

Answer to a math question What is the amount of interest of 75,000 at 3.45% per year, at the end of 12 years and 6 months?

$Expert avatar$

Esmeralda

4.7

102 Answers

The formula for simple interest is: I=\frac{P\times t\times r}{100} Given P = $75000, t = 12.5 years, and r = 3.45% or 0.0345: I=\frac{75000\times12.5\times0.0345}{100}=323.4375

Frequently asked questions (FAQs)

What is the equation of an ellipse with center (2,3), major axis length of 10 units, and minor axis length of 6 units?

What is the result of factoring 6x^2 + 9xy - 15x using the distributive property?

What is the vertex of the parabola given by the function 𝑦 = 2𝑥^2?

New questions in Mathematics

STUDENTS IN A CLASS LEARN ONLY ONE FOREIGN LANGUAGE. two-sevenths of the students learn German, half of the students learn Spanish, and the remaining six students learn Italian. what is the number of students in this class? detail your reasoning carefully.

3x+5y=11 2x-3y=1

Suppose the horses in a large stable, have a mean weight of a 807 pounds and a variance of 5776. What is the probability that the mean weight of the sample of horses with differ from the population mean by greater than 18 pounds is 41 horses are sampled at random from the stable round your answer to four decimal places.

The actual length of an object is 1.3 m . If the blueprint uses a scale of 1 : 12 , what is the length of the line on the drawing?

how many arrangement can be made of 4 letters chosen from the 8 letters of the world ABBSOLUTE

Calculate the value of a so that the vectors (2,2,−1),(3,4,2) and(a,2,3) are coplanar.

The Humane Society has asked for our help again this week. Currently they are charging $50 for an adoption fee. Unfortunately they just pulled this number out of the air and do not know why they are charging this amount. They would like to charge an amount that covers all the adoption costs – both the variable costs for adoptions as well as the fixed cost for the kennel portion of the Humane Shelter operations. We can help them by doing a breakeven analysis. During a client meeting we gathered these facts. There are 2 part-time employees that each earn $1000 per month. The utilities for the kennel area (water, electricity) are $200 per month. The average food cost for animals in the kennel is $800 per month. In addition, each animal that is adopted receives a rabies vaccination that costs $4 and is micro-chipped that costs $6. At the current cost of $50, how many animals must be adopted to break-even? What would break-even be at a $60 adoption fee? What would break-even be if the fee were lowered to $40? The newspaper has suggested that the Humane Society advertise to increase pet adoptions. The package that they have recommended costs $1000 for a very small ad run every day for a month. If the Humane Society does this extra advertising, how will it affect breakeven? Based on what you have learned about elasticity, what price do you recommend for the adoption fee?