Lily provider a loan of $2500 to David that had an annual interest rate of 4.6%. Find the balance after 5 years if itcompounded yearly

The balanced amount is $3130.25.

Step-by-step explanation:

Given : Lily provider a loan of $2500 to David that had an annual interest rate of 4.6%.

To find : The balance after 5 years if it compounded yearly ?

Solution :

Using compound interest formula,

Where, P=$2500 is the principal

r=4.6%=0.046 is the interest rate

t=5 years

Substitute the values,

Therefore, the balanced amount is $3130.25.

"standard form:

3x2 + 14x − 10 = 0

solutions based on quadratic formula:

x1   = −14 − √ 142 − 4×3×(−10) /   2×3   = −14 − 2 × √ 79 /   6   ≈ −5.296

x2   = −14 + √ 142 − 4×3×(−10) /   2×3   = −14 + 2 × √ 79 /   6   ≈ 0.629