A deposit of $4000 is made into a savings account that pays 2.48% annual interest compunded quarterly.
a. How much money is in the account after 3 years?
b. How long will it take for the account to earn $500 interest?
years
c. How much more money will be in the account after 3 years if the interest if compounded continuously?

Answers

Answer 1

Answer:

  a. $4307.96

  b. 4.76 years

  c. $0.99

Step-by-step explanation:

These questions can be answered using the relevant formulas for future value of an investment.

a.

For compound interest, the account balance is given by ...

  A = P(1 +r/n)^(nt) . . . . principal P at annual rate r compounded n times per year for t years

$4000 at 2.48% compounded quarterly for 3 years will give an account balance of ...

  A = $4000(1 +0.0248/4)^(4·3) = $4000×1.0062^12 ≈ $4307.96

After 3 years, there will be $4307.96 in the account.

__

b.

After earning $500 in interest, the account balance will be $4500. That means we need to solve for t such that ...

  4500 = 4000(1.0062^(4t))

  log(4500/4000)/(4×log(1.0062)) = t ≈ 4.764

It will take about 4.76 years to earn $500 interest.

__

c.

The future value of an account with continuous compounding is given by ...

  A = Pe^(rt)

  A = $4000e^(0.0248·3) ≈ $4308.95

Then the additional interest is ...

  $4308.95 -4307.96 = $0.99

If the money is compounded continuously, there will be $0.99 more in the account after 3 years.


Related Questions

In a properly drawn sample with a 3-percent sample error, 20% of 100 respondents indicate they intend to vote for a ballot measure. This means that there is high probability that between ______ percent of all voters actually plan to vote for the ballot measure.

Answers

The true statement is that, the probability that 17% to 23% percent of all voters planned to vote is high

How to determine the probability?

The percentage sample error (S) is given as:

S = 3%

The proportion (p) of the respondent is given as:

p = 20%

This means that the range (R) of the proportion is:

R = p ± S

This gives

R = 20% ± 3%

Expand

R = (20% - 3%, 20% + 3%)

Evaluate

R = (17%, 23%)

This means that the range is 17% to 23%

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Find the quotient and remainder when sum of the number 49 and the reversed number is divided by 11

Answers

Answer:

Quotient = 13

Remainder = 0

Step-by-step explanation:

Reversed number => 94

=> 94 + 49 / 11

=> 143 / 11

=> 13

Quotient = 13

Remainder = 0

Answer:it’s 13

Step-by-step explanation:49+94/11=13

pls help i don't know the answer

Answers

Answer:

10.6

Step-by-step explanation

i just divided 2.65 and 0.25 and got 10.6(: hoped it helped

5(4x + 2) ÷ 7y
what is the term of this expression I found the sum and product, quotient etc. but I forgot the term. (due in 10 minutes!! please help and have a blessed day/night)

Answers

Answer:

parts of the expression 5(4x + 2) ÷ 7y are:

Sum: 4x + 2

Term: 7y

Product: 5(4x + 2)

Factor: 5

Quotient: 5(4x + 2) ÷ 7y

Coefficient: 7

Please help giving brainliest to the correct answer !!

Answers

Answer:

[tex]24\pi[/tex]

Step-by-step explanation: may God bless you and your family during the spring break

Which situation can be modeled by the inequality 5 + 10w ≥ 45?

Answers

Answer:

w greater or equal 4

Step-by-step explanation:

Subtract 5 on both sides. 10w greater or equal to 40. So yeah.

Answer:

a.You start with $5 and save $10 a week until you have at least $45

Step-by-step explanation:

Caitlin won a bag full of money! She has 49 bills in all. She counts $1430. There
are twenty dollar bills and fifty dollar bills. How many of each bill does Caitlin
have? Which system best represents the situation?
20x + Soy - 1430
10x + 5y - 1430
x+y = 1430
202.50y 49

Answers

Answer:

I believe A would be the correct one, but I'm not 100% sure, none of the others make any sense and it looks like there may be a typo on A.

Step-by-step explanation:

If Caitlin were to win a huge sum of cash. In total, she has 49 bills. She adds up $1430. There are twenty and fifty-dollar bills available. The equation 20x + 50y = 1430 is the one that best describes the situation.

What is an equation?

Equations are statements that affirm the equivalence of two expressions that are joined by the equals symbol "=". An equal sign ("=") links two expressions together to form an equation.

Given that Caitlin won a bag of cash, she has a total of 49 bills. She adds up to $1430. There are twenty and fifty-dollar notes available.

The system best represents the situation is,

20x + 50y = 1430

Thus, if Caitlin was to win a huge sum of cash. In total, she has 49 bills. She adds up to $1430. There are twenty and fifty-dollar bills available. The equation 20x + 50y = 1430 is the one that best describes the situation.

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#SPJ2

In three days Alexandra sold a total of 31 tickets to her school play. On Tuesday she sold as twice as many tickets as on Wednesday. And on Thursday, she sold exactly seven tickets. How many tickets did Alexandra sell on each day Tuesday through Thursday?

Answers

Answer:

Alexander sold

8 tickets on Tuesday

16 tickets on Wednesday

7 tickets on Thursday

Step-by-step explanation:

Let us represent:

Number of tickets sold on Tuesday = a

Number of tickets sold on Wednesday = b

Number of tickets sold on Thursday = c

In three days Alexandra sold a total of 31 tickets to her school play.

a + b + c = 31...... Equation 1

On Tuesday she sold as twice as many tickets as on Wednesday.

2a = b

And on Thursday, she sold exactly seven tickets.

c = 7

Substitute 2a for b and 7 for c in Equation 1

a + b + c = 31...... Equation 1

a + 2a + 7 = 31

3a = 31 - 7

3a = 24

a = 24/3

a = 8 tickets

Note that

2a = b

a = 8 tickets

2 × 8 = 16 tickets

b = 16 tickets

Therefore, Alexander sold

8 tickets on Tuesday

16 tickets on Wednesday

7 tickets on Thursday

first to solve this correctly will be awarded brainiest!!! i need help asap!

Answers

Answer:

3^13*73

Step-by-step explanation:

3^17-3^15+3^13 So you factor out 3^13

=3^13(3^4-3^2+1)

3^4-3^2+1=73

3^13*73

Hope this helps!

The first factor is dilated to from the second figure

Answers

Answer:

0.25

Step-by-step explanation:

If we multiply 5.8 by 0.25, we get 1.45, which is the transformed measurement.

EMERGENCY! PLEASE ANSWER ASAP! ​

Answers

Answer:

I think the answer is "It looks like you can keep the same base and just add the exponents"

what similarity statement can you write relating the three triangle in the diagram?​

Answers

Answer:

D.

Step-by-step explanation:

In triangle EAK, A is the right angle.

In triangle AGK, G is the right angle.

In triangle EGA, G is the right angle.

That means we know that those letters have to be in the same position in the names of the three triangle.

The triangles are being written in the order: EAK, AGK, EGA

_A_   ~   _G_   ~   _G_

Angle E of triangle EAK corresponds to angle E of triangle EGA.

EA_   ~   _G_   ~   EG_

Angle K of triangle EAK corresponds to angle K of triangle AGK.

EAK   ~   _GK   ~   EG_

There is only one vertex missing in the last two triangles, so they must be A and A.

EAK   ~   AGK   ~   EGA

Answer: D.

if triangle ABC is dilated by a scale factor of 2 what are the coordinates of the image of a ?

Answers

Answer:

x=-2

y=1

(-2,1)

Step-by-step explanation:

all you have to do is look at the point that a is on and run your finger to the x and y line where it touches those lines is where you look at the # that it is on

x=horizontal

y=vertical

(-2,2) is the answer to your question

LITERALLY HELP ASAP I AM DYING

Answers

Answer:

Correct answers:

1y≥−0.5x+2

2y>2x−3

8x+y=5 and x+y=12 , using substitution and elimination

Answers

Answer:

x=−1,y=13

Step-by-step explanation:

Answer:

x = -1 and y = 13 Please Mark Brainliest

Step-by-step explanation:

Maryanne wants to lay tile above the countertops in her kitchen as a backsplash for the room. The length of the rectangular shaped wall she wishes to cover is 10.5 feet and its width is 3 feet. If the cost of her tile is $2.25 for every square foot, how much should she plan to spend?

please help I need it now ty <3

Answers

The cost of tiling the wall is $70.86

Data;

length of wall = 10.5ftwidth of wall = 3 ftcost per square foot = $2.25

Area of Rectangle

The formula of area of rectangle is given as

[tex]A = l*w[/tex]

Let's substitute the values and solve

[tex]A = L * W\\A = 10.5 * 3 = 31.5ft^2[/tex]

The area of the rectangular wall is 31.5ft^2.

The cost of tiling the wall will be the cost of one square foot by the area of the wall.

[tex]31.5 * 2.25 = \$70.86[/tex]

The cost of tiling the wall is $70.86

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please help
The mean for problem 1 is minutes.

The mean for problem 2 is minutes.

Which of the following is a correct inference based on the mean values.

(Enter Only A, B, or C)

Answers

Answer:

I think it would be A

Step-by-step explanation:

because it took the students longer on problem one than it did for problem 2.

What process you would use to find the distance between (2, 7) and (4, 10)?

Answers

Answer:

d = \sqrt{(x_2 - x_1)^2 + (y_2-y_1)^2}

Step-by-step explanation:

Which is a rational number between 2 and 3 with a 2-digit repeating
pattern?

Answers

Answer:

3

Step-by-step explanation:

3 3 3

Answer:

3

Step-by-step explanation:

What is 1/3÷4 what is the answer?

Answers

Answer:

It's .083333333333333.....

Step-by-step explanation:

Hope this helps!

Answer:

1/12

Step-by-step explanation:

In the photo

What is the sum of the 2nd square number and the 4th cube number?

Answers

Answer:68

Explanation:
2*2=4 —> second square number
4*4*4=64 ——> 4th cube number
64+4 = 68

Someone help me with this homework question
THIS IS NOT A QUIZ
ITS HOMEWORK

Answers

AD= 5
DC= 5

Reason:
You need to solve for (2y-10) and (2x-10) using the quadratic formula.
2y-10=0
/2 +10 +10
10/2= 5

2x-10=0
/2 +10 +10
10/2= 5

Hope this helps explain!

Answer:asddwa

Step-by-step explanation:

asdwas

Mandi scored high on measures of mathematical ability and also scored high on measures of reasoning ability. Her scores lend support for the

Answers

Mandi's measures of mathematical abilities and reasoning ability lend support to the view of general intelligence.

What is general intelligence?

This concept refers to humans' general abilities and capacity to perform different cognitive tasks. This factor is often measured based on the following elements:

Numerical intelligence.Reasoning abilities.Verbal intelligence.Spatial abilities.

Why does Mandi's measure support general intelligence?

Mandi is measuring two of the main elements considered as part of general intelligence. Based on this, her measures focus on general intelligence and lend support to this factor.

Learn more about intelligence in: https://brainly.com/question/9944825

Maddie has 18 flowers plants to put in her garden. she wants to plant them on 3 rows with an equal number on each row. how many rows will she plant​

Answers

Answer:

6 rows

Step-by-step explanation:

You divide 18 by 3 and you have ur answer.

Answer:

6 flowers per row

Step-by-step explanation:

Divide the number of flowers by the number of rows:

⇒ 18 ÷ 3 = 6

So she will plant 6 flowers per row.

Find the value of x.
(Image)
Find the value of x so that f || g
(Image)

Answers

Answer:

x = 13 , x = 9

Step-by-step explanation:

for the lines to be parallel then 9x + 2 and 119 are alternate angles and are congruent , so

9x + 2 = 119 ( subtract 2 from both sides )

9x = 117 ( divide both sides by 9 )

x = 13

-------------------------------------------------------

For f and g to be parallel then 18x - 44 and 8x - 10 are same- side interior angles and sum to 180° , then

18x - 44 + 8x - 10 = 180 , that is

26x - 54 = 180 ( add 54 to both sides )

26x = 234 ( divide both sides by 26 )

x = 9

Please I need help ASAP​

Answers

9x is your answer ma’am

Answer:

i believe 9x

Step-by-step explanation:

Find the measure of x, the missing angle shown below.

Answers

Answer:

x=33

Step-by-step explanation:

[tex]\hookrightarrow \: x + 90 + 57 = 180(sum \: of \: all \: angles \: of \: triangle)\\ \hookrightarrow \: x = 180 - 90 - 57 \\ \hookrightarrow \: x = 33[/tex]

Since the internal angle of a triangle is = 180 degrees,

180 = 90 + 57 + x
x = 180 - 90 - 57
= 33

Which of the following equations is a quadratic equation? HELP ASAP

Answers

Answer:

(x+5)(x+25)=5

Step-by-step explanation:

When simplified, if you foil the left side of the equation, you get:

x^2+30x+125 = 5

Simplified, you get:

x^2+30x+120 = 0

A quadratic by definition is a polynomial with the highest degree of 2, which means the highest exponent should be a two. In our case, it is. So therefore, (x+5)(x+25)=5 is the answer.

Answer:

Option 1

Step-by-step explanation:

(x + 5)(x + 25) = 5 is a quadratic equation. It can be verified upon expansion.

=> x² + 30x + 125 = 0

=> Quadratic equations are of the form Ax² + Bx + C = 0

=> Hence it is a quadratic equation

Find the volume of the cone
to the nearest tenth with a
diameter of 2 ft and a height
of 8 ft

Answers

Answer:

I won't;))

Step-by-step explanation:

I will not Find the volume of the cone

to the nearest tenth with a

diameter of 2 ft and a height

of 8 ft:)

Answer:

33.493

Step-by-step explanation:

to find the volume of a cone the equation that you are going to use is:

[tex]V=\pi r^2 \frac{h}{3}[/tex]

Step 1: Plugin

[tex]V=\pi 2^2 \frac{8}{3}[/tex]

r/Diameter=2

h=8

step 2: solve

[tex]\pi =3.14[/tex]

[tex]2^2=4[/tex]

[tex]3.14 x 4x \frac{8}{3} = 33.49[/tex]


Six friends sat at a table for the ferry ride to Liberty Island. Javier sat between Lindsey
and Sue. Franco sat in seat 1. He is next to Pavi. Ellie is not beside Sue or Pavi. Solve
the problem to tell where the friends are sitting. Give two possible solutions.

I need one more solution ,

Answers

Answer:...

Step-by-step explanation:

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