Answer:
True
Step-by-step explanation:
Why true I had that problem and it was true.
The number is 14
Here's the solution:
Let the number be x
According to the question,
27+7x=125
//Subtract 27 from both the sides
7x=125-27
7x=98
//divide both the sides by 7
x=98/7
x=14
The money in the Felix's account will be $6798 when he is 21.
<u>Step-by-step explanation:</u>
It is given that,
- The amount deposited is $2000.
- The account earns 6% compound interest.
- It is compounded annually for 21 years.
<u>To find the money in Felix's account after 21 years :</u>
The formula used here is,
⇒
where A is the amount after 21 years.
- P is the initial amount deposited ⇒ P = 2000
- r is the rate ⇒ r = 0.06
- n is the number of times interest is compounded per year⇒ n = 1
- t is the time period ⇒ t = 21
⇒
⇒
⇒
⇒
Therefore, The money in the Felix's account will be $6798 when he is 21.