A person invests 7000 dollars in a bank. The bank pays 5.5% interest compounded monthly. To the nearest tenth of a year, how long must the person leave the money in the bank until it reaches 13200 dollars?

Answers

Answer 1

The number of years it will take the person to leave the money in the bank until it reaches 13200 dollars is 2.9 years.

To calculate the time the person must leave the money in the bank until the money reaches 13200 dollars, we use the formula of compound interest below.

What is compound interest?

This is the interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods.

Formula:

A = P(1 + r/100)ⁿ................ Equation 1

Where:

A = AmountP = Principler = Raten = Time.

From the question,

Given:

P = 7000 dollarsr = 5.5%  componded monthlyA = 13200 dollars

Substitute these values into equation 1 and solve for n

13200 = 7000(1+(5.5×12)/100)ⁿ(1+(5.5×12)/100)ⁿ = 13200/7000(  1.66)ⁿ = 1.886n = 2.9 years

Hence, The number of years it will take the person to leave the money in the bank until it reaches 13200 dollars is 2.9 years.

Learn more about compound interest here: brainly.com/question/18456266


Related Questions

what is better 34 out of 50 or 14 out of 20

Answers

14/20 because 14 is closer to 20 and 34 is thurther from 50

Jamila is walking her small dog for a walk around her neighborhood. They travel 3/5 They travel 3/5of a mile in 40 minutes. Determine the unit rate they walk in minutes per hour.

Answers

Answer:

unit rate = 0.9 miles per hour

Step-by-step explanation:

Rate per hour of walking is calculate by = distance moved in miles/ time taken in miles

_________________________

given

distance = 3/5 of a mile = 3/5 miles

time = 40 minutes

we have to find time in hours

60 minutes = 1 hour

40 minutes = 1/60 *40 hours = 2/3 hours

thus

unit rate = (3/5 miles)/ (2/3 hours ) = (3*3)miles/(5*2) hour = 9/10 miles per hour

unit rate = 0.9 miles per hour

Will Give Brainliest if you show all the steps. 8x - 6 / 2 = x + 12
Solve for X

Answers

Answer:

x=

15

7

Step-by-step explanation:

Step 1: Simplify both sides of the equation.

8x−

6

2

=x+12

8x+−3=x+12

8x−3=x+12

Step 2: Subtract x from both sides.

8x−3−x=x+12−x

7x−3=12

Step 3: Add 3 to both sides.

7x−3+3=12+3

7x=15

Step 4: Divide both sides by 7.

7x

7

=

15

7

x=

15

7


[tex]1. \sqrt{12} [/tex]
[tex]2. \sqrt{50} [/tex]
[tex]3. \sqrt{ \frac{49}{81} } [/tex]

Answers

1. 3.46410161514
2. 7.07106781187
3. 0.08641975308

Hope it helps!

Answer:

1. 3.46410162

2. 7.07106781

3. 0.08641975

At rehearsal for the school play, jack sings three times as many songs as Jennifer, and then dances to 5 more songs, just to show off. He does 44 performances in total. The equation 3x + 5 = 44 describes this situation. What does the variable x represent?

Answers

Step-by-step explanation:

3x+5=44

3x=44-5

3x=39

x=39÷3

x=13

The diameter of one of the lights in a stoplight is 12 inches.
What is the area of the green light?

Use 3.14 as an approximation for π. Round your answer to the nearest tenth

The answers: 113.0 in, 113.0 in2, 452.2 in, 452.2 in2

Answers

Answer:

113.0 in

Step-by-step explanation:

[tex]a = \pi \: r {}^{2} \\ \\ = 3.14( \frac{12}{2} ) {}^{2} \\ \\ a = 113.0 \: in {}^{2} [/tex]

2, X2 + x - 3
True or False​

Answers

Answer:

(True or False) The inequality |x + 1| < 0 has no solution.

Solution

The absolute value of a real expression is either positive or equal to zero. Therefore there is no value of x that makes |x + 1| negative and therefore |x + 1| < 0 is never true and the statement "The inequality |x + 1| < 0 has no solution" is TRUE.

make me brainlieast and follow me..

Answer:

false

2,x2+x-3

2

x

2

x

3

=

0

 

Factor by grouping.

Tap for more steps...

(

x

+

1

)

(

2

x

3

)

=

0

If any individual factor on the left side of the equation is equal to  

0

, the entire expression will be equal to  

0

.

x

+

1

=

0

2

x

3

=

0

Set the first factor equal to  

0

and solve.

Tap for more steps...

x

=

1

Set the next factor equal to  

0

and solve.

Tap for more steps...

x

=

3

2

The final solution is all the values that make  

(

x

+

1

)

(

2

x

3

)

=

0

true.

x

=

1

,

3

2

Step-by-step explanation:

What is the Measure of ZADB?
A
(3x + 9)
B
(2x - 4)^
D
с

Answers

Answer:

60

Step-by-step explanation:

m(ADB) + m(BDC) = 90°

(3x+9) + (2x -4) = 90°

5x + 5 = 90°

5x = 85

5x/5 = 85/5

x = 17

m(ADB) = 3x + 9

3.17 + 9 = 51 + 9 = 60

Hope this helps ^-^

Answer: 60°

Step-by-step explanation:

Looking at the figure, we know that the angles add up to 90°. We add both equations and solve for x.

3x+9+2x-4=90          [combine like terms]

5x+5=90                    [subtract both sides by 5]

5x=85                        [divide both sides by 5]

x=17

Now that we know x, we can plug it into ADB to find the angle.

3(17)+9                      [multiply]

51+9                          [add]

60

Now, we know that ADB is 60°.

can someone please help me ?

Answers

9514 1404 393

Answer:

solution: (-2, 2), (-4, -4)not a solution: (4, -2), (0, 0)

Step-by-step explanation:

Plot the given points on the graph. Those that are on the (solid) boundary line or in the shaded area are solutions. Those in the white space are not solutions.

Which set of population data is the least dispersed from its mean? 2, 3, 2, 9 4, 0, 4, 0 6, 2, 2, 2 9, 3, 5, 3.

Answers

The set of data 6, 2, 2, 2  will have the least dispersion from its mean.

What will be the mean?

From four sets of data, we take the mean of 6,2,2,2

[tex]\rm mean =\dfrac{ Sum \ of\ data}{Number \ of\ data}[/tex]

So the mean will be

[tex]\rm mean =\dfrac{ 6+2+2+2}{4}=\dfrac{12}{4} =3[/tex]

So the mean of the data (6,2,2,2) is 3 which has the least dispersion from its every data as compared to the other data

Thus the set of data 6, 2, 2, 2  will have the least dispersion from their mean.

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Answer:

c: 6,2,2,2

Step-by-step explanation:

How were the Cherokee impacted by European settlement? Why did hostilities
escalate? Pls help!!

Answers

Answer:

Cherokees were forced to leave their homes. There are usually peaceful, but this angered them, so naturally, they fought back and that's why the hostilities escalated.

Step-by-step explanation:

Please Help! Answer Number 4

Answers

Answer:

1485

Step-by-step explanation:

sorry if im wrong

Dalton is saving up money to buy a car. He deposits $10 in his savings account the 1st month. Each month after that, he deposits $5 more than the amount he deposited the previous month. Thus, Dalton's deposit is $15 the 2nd month, $20 the 3rd month, and so on. He makes his final deposit of $95 the 18th month . How much money does Dalton have in his account after these 18 deposits ?

Answers

$945, there’s probably a faster way but i just took every increment of 5 from 10 to 95 and that was the answer, hope this helps!

The length of a rectangle is 11cm more than the width. Find the dimensions of the
rectangle if the area is 60cm?

Answers

width x

lenght : x + 11

area = x * (x+11) = 60 cm²

x² + 11x - 60 = 0

Δ = 11² - 4*1*(-60) = 121 + 240 = 361 = 19²

x' = (-11 - 19) / 2 = not possible

x" = (-11 + 19) / 2 = 4

witdh = 4

lenght = 4+11 = 15

Which table shows a proportional relationship between x and y?
x
1
2
3
6
O
у
1.5
:
3
6
9
.
x
2.
4
5
6
о
y
6
12
18
21
х
1
3
4
5
o
O
y
50
150
200
250
х
3
5
7
8
a
у
1.5
2.5
3
4.5
1
2
3
4
5
6
7
8
9
10
Next

Answers

The ratio of y:x should be constant for any value of x and y.

[tex] \frac{y}{x} = constant[/tex]

If go over every table, you'll find that this is true for the third one and that the ratio is r=50

The table showing the proportional relationship between x and y is the third one.

What is proportional relationship?

Two sequences of numbers, often experimental data, are proportional or directly proportional if their corresponding elements have a constant ratio, which is called the coefficient of proportionality or proportionality constant.

Given are four tables, giving values of x and y, we need to identify the table giving the relation between x and y which is proportional.

Table 1)

x = 1, 2, 3, 6

y = 1.5, 3, 6, 9

y/x = 1.5, 1.5, 2, 1.5 [not proportional]

Table 2)

x = 2, 4, 5, 6

y = 6, 12, 18, 21

y/x = 3, 3, 3.6, 3.5 [not proportional]

Table 3)

x = 1, 3, 4, 5

y = 50, 150, 200, 250

y/x = 50, 50, 50, 50 [proportional]

Hence, the table showing the proportional relationship between x and y is the third one.

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f + 2.5= 3f + 7.24 (What first step would you do to solve for f? )

Answers

Step-by-step explanation:

We have our question.

f + 2.5= 3f + 7.24

Then you combine like terms that taking the coefficients apart.

That is,

NOTE: WHEN TAKING A NUMBER ACROSS AND EQUAL SIGN THE SIGN CHANGES, E.G - TO + .

f - 3f = 7.24 - 2.5

-2f = 4.74

Divide both sides by coefficient of f which is -2

-2f = 4.74

-2 -2

f = 8.49

Answer:

Step-by-step explanation:

We have our question.

f + 2.5= 3f + 7.24

Then you combine like terms that taking the coefficients apart.

That is,

NOTE: WHEN TAKING A NUMBER ACROSS AND EQUAL SIGN THE SIGN CHANGES, E.G - TO + .

f - 3f = 7.24 - 2.5

-2f = 4.74

Divide both sides by coefficient of f which is -2

-2f = 4.74

-2 -2

f = 8.49

- Solve the equation. (1 point)
3(x-7) – x=2x-21
07
0-2
O infinitely many solutions
Ono solution

Answers

Answer:

3(x-7) – x=2x-21 ( the equation)

--> infinitely many solutions

Step-by-step explanation:

The solution of the equation is infinitely many solutions, the correct option is C.

What is a linear equation?

In mathematics, a set of simultaneous equations, also known as a system of equations or an equation system, is a finite set of equations for which common solutions are sought.

A linear equation is an equation that has the variable of the highest power of 1. The standard form of a linear equation is of the form Ax + B = 0.

We are given that;

Equation 3(x-7) – x=2x-21

Now,

To solve the equation, we need to simplify both sides and isolate x. We can do this by following these steps:

3(x-7) – x = 2x - 21 Expand the parentheses by multiplying 3 with x and -7:

3x - 21 - x = 2x - 21 Combine like terms on the left side by subtracting x from 3x:

2x - 21 = 2x - 21 Subtract 2x from both sides to eliminate x:

-21 = -21 This equation is always true, regardless of the value of x. This means that the equation has infinitely many solutions. Any value of x will satisfy the equation

Therefore, the answer of the given equation will be  infinitely many solutions

Learn more about linear equations;

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whats the value of x in the triangle 9 3

Answers

Answer:

X = 9.4868

Step-by-step explanation:

Use the pythagorean theorem

a squared plus b squared equals c squared

in this case c equals x

A&b are the side and base length of a right triangle

Find the equation of the line passing through the points (4,5) and (-6,15)

Answers

Answer:

y = − x + 9

Step-by-step explanation:

Plz Mark brainliest!

Answer:

The answer would be y=-x+9

Step-by-step explanation:

Fill in - and then 9

"Important put in negative symbol without 1 just negative symbol".

I climb half the steps in a staircase. Next, I climb one-third of the remaining steps. Then I climb one-eight of the rest and stop to catch my breath. What is the least possible number of steps in the staircase?

Answers

Given parameters:

   First sets of staircase  = [tex]\frac{1}{2}[/tex]

   Next sets  = [tex]\frac{1}{3}[/tex]

    Third sets  = [tex]\frac{1}{8}[/tex]

Unknown:

The least possible number of steps =?

Solution:

The least possible number of steps will be the lowest common multiples of these sets of steps.

We want fractions that will give whole numbers because realistically, one cannot take half a step of a step.

 So, the number of steps must be a multiple of denominators of the fractions given.

   Denominators are 2 , 3 and 8

     Their least common multiple is 24;

    This the lowest number by which 2, 3 and 8 can all divide.

So, the least number is 24 steps

Put the quadratic into vertex form and state the coordinates of the vertex. y=x^2-2x+3

Answers

Answer:

The vertex form of the quadratic:    y = (x - 1)² + 2

Coordinates of vertex:    (1, 2)

Step-by-step explanation:

[tex]y=x^2-2x+3\\\\y=x^2-2x+1+2\\\\y=(x-1)^2+2[/tex]

The vertex form of an equation of the parabola is:  f(x) = a(x - h)² + k

where (h, k) is the vertex. So:

x - h = x - 1   ⇒   h = 1

+ k = +2     ⇒  k = 2

Find the area and circumference 80 mm​

Answers

Answer:

The circumference of a circle with diameter 80 is 251.3

Step-by-step explanation:

Can someone please help me asap?? I’ll mark brainlist !!

Answers

Answer:

It's the same price.

Step-by-step explanation:

20% of $200 is $40. Either way, you get $40 off.

If you multiply a number by 3 and then subtract 5, you will get 40 what is the number

Answers

Answer:

Number  = 15.

Step-by-step explanation:

Given : If you multiply a number by 3 and then subtract 5, you will get 40.

To find : what is the number.

Solution : We have given if you multiply a number by 3 and then subtract 5, you will get 40.

According to question :

Let the number =  x

Multiply is with 3 = 3x

Subtract 5 from it we get 40 .

3x -5 = 40

On adding both sides by 5

3x = 45 .

On dividing both sides by 3

x =  15.

Therefore, Number  = 15.

Answer:

15

Step-by-step explanation:

3×y-5=40

3y-5=40

3y=40+5

3y=45

y=45÷3

y=15

A 500 cm piece of wire with a radius of 0.2 cm has a resistance of 0.025 ohm. Find an equation that relates these variables.

Answers

Answer:

Step-by-step explanation:


Two people, Adam and Bianca, are competing to see who can save the most money in one month. Adam starts the month with $3 and then saves an additional $3 each day.
Bianca's savings can be seen in the table below.

Answers

Answer:

What is the question?

Step-by-step explanation:

You did not attach a file, and all you posted was a statement, not a question. Please edit the question or I cannot help. Sorry......


Carter deposits $200 into a new savings account that pays 6% simple interest annually. Reese deposits $200 into a new savings account that pays 6% interest compounded annually. If both Carter and
Reese leave their $200 deposit in their accounts for 6 years, how much more will Reese's deposit eam in interest than Carters deposit
Explain all steps taken to solve the problem

Answers

Answer:

ok bet

Step-by-step explanation:

how would u like me to answer it pls

Find the value of x
hurryyyyyyyyyyyyyyyyyyyy

Answers

Answer:

x = 2

Step-by-step explanation:

By the property of intersecting chords.

BE*ED = AE*EC

[tex] \implies \: x(3x) = 4(3) \\ \\ \implies \:3 {x}^{2} = 12 \\ \\ \implies \: {x}^{2} = \frac{12}{3} \\ \\ \implies \: {x}^{2} = 4 \\ \\ \implies \:x = \pm \sqrt{4} \\ \\ \implies \:x = \pm \: 2 \\ x \: can \: not \: be \: negative \\ \\ \implies \:x = 2[/tex]

Nathan is walking at a speed of 2.5 miles per hour. If he continues to walk at the same speed, how far can Nathan walk in 1.75 hours?

Answers

Answer:

4.375

Step-by-step explanation:

2.5mil = 1hr

xmil = 1.75hr

x = 1.75 * 2.5

x = 4.375

BRAINLIEST

6. The value of (tan 1° tan2º tan 3º ... tan 89°) is​

Answers

Answer:

1

Step-by-step explanation:

Using the trigonometric identities

tan(90 - x) = cotx , cotx = [tex]\frac{1}{tanx}[/tex]

Given

tan1tan2tan3....................... tan87tan88tan89

= tan1tan2tan3............... tan(90-3)tan(90-2)(tan90 - 1)

= tan1tan2tan3.............. cot3cot2cot1

= tan1cot1tan2cot2tan3cot3 ........................

= 1 × 1 × 1 ×....................... × 1

= 1

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