You would end up with approximately $871.89 in your bank account after investing $650 for 60 months at an annual interest rate of 6%, if the bank compounds the interest yearly.
In this case, we are calculating the compound interest over a certain period. The formula for compound interest is:
P = C * (1 + r/n)^(nt)
Substitute the values into the formula:
P = $650 * (1 + 0.06/1)^(1*5)
Applying mathematics, we get an approximate final balance of $871.89
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Answer:
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Step-by-step explanation:
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The length of the walkway along the diagonals is 112 feet.
Pythagoras theorem states that for a right angled triangle, the square of the hypotenuse is the sum of the squares of base and altitude.
Given that,
a rectangular plot of land is 100 feet long and 50 feet wide.
Length = 100 feet
Width = 50 feet
Length along the diagonal can be found using the Pythagoras Theorem.
Length and width of the rectangle can be taken as the legs and diagonal is taken as the hypotenuse.
Length of the diagonal = √(100² + 50²) = √12500 = 111.8 ≈ 112 feet
Hence the length of the walkway is 112 feet.
Learn more about Pythagoras Theorem here :
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