In 2 years, Duncan wants to buy a bicycle that costs $400.00. If he opens a savings account that earns 11% interest compounded annually, how much will he have to deposit as principal to have enough money in 2 years to buy the bike?

Current deposit amount  = $324.65 (Approx.)

Step-by-step explanation:

Given:

Cost of bicycle = $400

Future amount = $400

Rate of interest = 11% = 0.11

Number of year = 2 year

Find:

Current deposit amount

Computation:

Compound interest formula

A = P[1+r]ⁿ

Future amount = Current deposit[1+Rate of interest]ⁿ

400 = Current deposit[1+0.11]²

400 = Current deposit[1.11]²

400 = Current deposit[1.2321]

Current deposit amount  = 400 /1.2321

Current deposit amount  = $324.65 (Approx.)

false

step-by-step explanation:

4y - 6 + 4y^2 - 9

before simplifying this contains 4 terms

after simplifying

4y -15 + 4y^2

it contains 3 terms

x + y = 90 5x – 10y = 90 90 – 10y = 5x 90 + 10y = 5x

step-by-step explanation:

last month maria hiked the 5-mile mountain trail a number of times and she hiked the 10-mile canal trail several times. let x represent the number of times she hiked the 5-mile trail, and let y represent the number of times she hiked the 10-mile trail. if she hiked a total of 90 miles, which equation can be used to find the number of times maria hiked each trail? x + y = 90 5x – 10y = 90 90 – 10y = 5x 90 + 10y = 5x