1. suppose you invest $500 at 10% interest, compounded annually. after 5 years, how much money would you have in your account? remember, the formula is a = p(1 + r)t. 2. if you invest $100 at 2% interest, compounded every 2 years, what would your balance be after 6 years? 4. two friends are going on a road trip and are downloading podcasts to listen to on the drive. they choose two podcasts. they download a episodes of podcast a, and b episodes of podcast b. each episode of podcast a is x minutes long, and each episode of podcast b is y minutes long. tell what the following expressions represent in the situation. a. ax + by b. a + b

Solution 1:

The compound interest formula to be used here is given by:

Now we are given:

P=$500

r=10% or 0.1

t=5 years

Plugging them in the formula ,

A=$802.255

Answer : After 5 years I will have $802.255 in my account.

Solution 2:

The formula for compound interest here is given by:

Here interest is compounded after every two years, so n=2

r=2% or 0.02

t=6 years

P= $100

Plugging these into the formula:

A=$112.683

The balance after 6 years would be $112.683.

Solution 4:

In this situation:

a. Ax+By

Ax represents duration of Podcast A episodes

By represents duration of Podcast B episodes

Ax+By represents total duration of Podcast A and Podcast B songs.

b. A+B

A+B represents total number of episodes of Podcast A and Podcast B.