Mathematics, 17.05.2021 09:30 cupcake20019peehui

Hamad invested 5000 AED in an account that pays 5% annual interest. After how many years will the value in Hamad's account be $25,000?

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Answer from: elirosejohlandancel

About 33 years.

General Formulas and Concepts:

Pre-Algebra

Order of Operations: BPEMDAS

Brackets Parenthesis Exponents Multiplication Division Addition Subtraction Left to Right

Equality Properties

Multiplication Property of Equality Division Property of Equality Addition Property of Equality Subtraction Property of Equality

Algebra I

Simple Interest Rate Formula: $\displaystyle A = P(1 + r)^t$

P is principle amountr is ratet is time (in years)

Logarithm Property 1: $\displaystyle log(a^x) = xloga$

Step-by-step explanation:

Step 1: Define

Identify

P = 5000

r = 5% = 0.05

A = 25000

t = unknown

Step 2: Solve for t

Substitute in variables [Simple Interest Rate Formula]: $\displaystyle 25000 = 5000(1 + 0.05)^t$ [Division Property of Equality] Divide 5000 on both sides: $\displaystyle 5 = (1 + 0.05)^t$ (Parenthesis) Add: $\displaystyle 5 = (1.05)^t$ [Equality Property] log both sides: $\displaystyle log5 = log[(1.05)^t]$ Rewrite [Log Property 1]: $\displaystyle log5 = tlog1.05$ [Division Property of Equality] Isolate t: $\displaystyle \frac{log5}{log1.05} = t$ Rewrite: $\displaystyle t = \frac{log5}{log1.05}$ Evaluate: $\displaystyle t = 32.9869$

Answer from: Quest

she was supposed to add the hours(38.5) and multiply the amount of money she earned(7.50) resulting in $288.75 .

correct me if i'm wrong and if it is i'm truly sorry.

Answer from: Quest

$649.60

step-by-step explanation:

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