Martin deposits $700 into a savings account that gains interest at a rate of 5.5% annually. If he waits 7 years to withdraw the money, will he have earned more or less money than $275 and by how much?

｡☆✼★ ━━━━━━━━━━━━━━  ☾  

Use the multiplier 1.055

final = original x multiplier^n

where 'n' is the number of years

Sub the values in

final = 700 x 1.055^7

final = 1018.27

Subtract the values:

1018.27 - 700 = 318.27

Thus, he earns more than $275

He earns $43.27 more

Have A Nice Day ❤    

Stay ! ヅ    

- Ally ✧    

｡☆✼★ ━━━━━━━━━━━━━━  ☾

hi how are you doing today? if you ever need just tell me

step-by-step explanation:

answer: 5 17/33 % (to the tenth)

step-by-step explanation:

he guessed: 34.5 pounds

actual weight is 32.7

there for he is off:

34.5 -32.7 = 1.8

32.7 is the 100%

1.8 represents %? of 32.7

therefore:

32.7   - 100%

1.8     -     x%

x= 1.8*100%/32.7% = 18*100%/327%

x=1800%/327%   = (5 165/327)%

to the tenth:

5 17/33 %