Brian wants to have $7000 in the bank in 10 years. He deposits $3000 today at 8% interest compounded semiannually, After keeping the money in the bank for 10 years, how much more money will he need to add to his account to reach the desired balance of $7000?

He needs to add approximately $ 426.63 to his account to reach the desired balance of  $7000.

Step-by-step explanation:

Here, the principal amount, P = $ 3000,

Semiannual rate of interest, r = 8 %

Time, t = 10 years,

Hence, the amount after 10 years, which is compounded with the semiannual rate of 8% for 10 years,

Thus, the amount, need to add in the balance to reach the amount of $ 7000 = 7000 - 6573.3694291 = 426.6305709 ≈ $ 426.63

⇒ He needs to add approximately $ 426.63 to his account to reach the desired balance of  $7000

answer: a video game has three difficulty levels: easy, medium, and expert. the game's scoring works in such a way that a player has to score a fixed number of points to advance to the next level, and then the scoring starts over. the total score needed to clear all three difficulty levels is 7,500. two times the number of points needed to clear the easy level is 500 more than the number of points needed to clear the medium level. twice the number of points needed to clear the medium difficulty level is 1,500 more than the number of points needed to clear the expert level. if x, y, and z represent the easy, medium, and expert levels, respectively, and a is the coefficient matrix of the system of equations modeling this situation, identify the inverse matrix, a-1, and the solution matrix, x, of the system of equations.

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