Larry accumulated $3,000 in credit card debt. If the interest rate is 10% per year and he does not make any payments for 2 years, how much will he owe on this debt in 2 years for quarterly compounding? Round your answer to two decimal places.

The amount will be "$3655.21".

Step-by-step explanation:

The given values are:

Principle,

P = $3000

Interest rate,

r = 10% i.e., 0.1

Number of times interest,

n = 4

Time,

t = 2 years

As we know,

⇒

On putting the values in the above formula, we get

⇒    

⇒    

⇒    

⇒     ($)

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