Mathematics High School

Anthony invested $36,000 in an account paying an interest rate of 5.3% compounded
quarterly. Assuming no deposits or withdrawals are made, how long would it take, to
the nearest year, for the value of the account to reach $51,800?

Answers

Answer 1

Answer:

3.8 months

Step-by-step explanation:

Question: Anthony invested $36,000 in an account paying an interest rate of 5.3% compounded

quarterly. Assuming no deposits or withdrawals are made, how long would it take, to

the nearest year, for the value of the account to reach $51,800?

First step! What is 5.3% of 36k?

1,908

Second Step! Divide

51,800/1,908= 27.1488469602

Third Step! Round

27.1488469602= 27.1

27.1 weeks.

7 weeks in a month.

12 months in a year.

27.1/7= 3.8

3.8 months

Answer 2

The number of years for the amount of compound interest to reach $51,800 is given by b = 7 years

What is Compound Interest?

Compound interest is interest based on the initial principle plus all prior periods' accumulated interest. The power of compound interest is the ability to generate "interest on interest." Interest can be added at any time, from continuously to daily to annually.

The formula for calculating Compound Interest is

A = P ( 1 + r/n )ⁿᵇ

where A = Final Amount

P = Principal

r = rate of interest

n = number of times interest is applied

b = number of time periods elapsed

Given data ,

Let the number years be represented as b

where the amount after b years is = $ 51,800

The initial principal amount P = $ 36,000

The number of times the compound interest is applied = quarterly = 4

Now , the equation is

A = P ( 1 + r/n )ⁿᵇ

On solving for the number of years b , we get

b = ln ( A / P ) / n [ ln ( 1 + r/n ) ]

b = ln ( 51,800.00 / 36,000.00 ) / ( 4 × [ ln ( 1 + 0.053/4 ) ] )

On further simplification , we get

b = ln ( 51,800.00 / 36,000.00 ) / ( 4 × [ ln (1 + 0.01325 ) ] )

b = 6.911 years

On rounding to the nearest year , we get

b = 7 years

Therefore , the value of b is 7 years

Hence , the number of years is 7 years

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Related Questions

find the value of x plz

Answers

It is(A) 116
As you look closely at the diagram the angle outside the angle and x are exterior angles and exterior angles are equal

It will be 61 trust me men 100%not 116

FFFFFRrrRRreeeeeeeee PPPPOOOOOIIIINNNNTTTTTSSSSSS

Answers

Ahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

Answer:

OMG! Thank you mate..... :D

Don Pedro tenía una parcela de 10 hectareas, vendió la quinta parte y el resto lo dividió entre sus 4 hijos, cuantas hectareas recibió cada uno?

Answers

what do i need for u supposed to help them

Pls help ASAP in a call with only my teacher

Answers

Answer:

Step-by-step explanation:

the answer is a. 6 faces 12 edges and 8 vertices

Answer:

Answer:

Angles 3 and 8 are consecutive interior angles

Step-by-step explanation:

Here, we want to use the consecutive interior angles theorem to find the supplementary angles

We start by looking at the transversal line

two angles that are directly above each other on the two lines are consecutive interior angles that are supplementary

We have this two as;

Since it is P and Q that are parallel, it is angles 3 and 8 that are consecutive interior angles

Simplify the expression 7h +(-5.9d) – 17+4d -3.4h

Please help me need it done ASAP

Answers

Answer:

−1.9d+3.6h-17

Step-by-step explanation:

You just need to combine like terms ;)

Hope it helps, let me know

find the measure of angle STP

Answers

x=7
Step-by-step explanation:
∠STP=∠SWT+∠TSW(exterrior ∠ of Δ)
15x=7x+1+7x+6
x=7

When you multiply 2 decimals, how do you know where to place the comma in the product?

Answers

Answer:

you mean the decimal point?

Step-by-step explanation:

You will know when you cross the decimal point when multiplying.

Answer: it would just be like putting a comma normally, just all you have to do is get your new number but then just add both the comma and decimal it shouldn’t effect on where its put! If that’s what your asking!

Step-by-step explanation:

4x + (-3) = -11
What is my answer can You please help me

Answers

Answer:

-2

Step-by-step explanation:

Let's solve your equation step-by-step

4x−3=−11

Step 1: Add 3 to both sides

4x−3+3=−11+3

4x=−8

Step 2: Divide both sides by 4

−8

x=−2

Answer:

[tex]4x + ( - 3) = - 11 \\ 4x (- 3) = - 11 \\ 4x = - 11 + 3 \\ 4x = - 8 \\ x = \frac{ - 8}{4} \\ x = - 2[/tex]

need help asap will give brainly

Answers

Answer:

x = 60

Step-by-step explanation:

So, ever triangle, no matter what shape or size, is always going to equal 180 degrees. You start off by trying to find angle L which is 71. The way you find this is you subratch 109 from 180 which ultimately gives you 71.

180 - 109 = 71

After that you have to add what you already have (49 degrees) with what you just found (71 degrees)

49 + 71 = 120

Now that you have 120, you have to again subtract 180 by 120 to get your answer, 60 degrees. And that's it.

180 - 120 = 60

Solve

b/5 - 37 < -44

Answers

Answer:

Step-by-step explanation

B<-35

A recipe for cookies calls for
cups of chocolate chips for every 3 dozen cookies made. How many cups of chocolate chips would be needed for 7 dozen cookies?

A.

B.

C.

D.

Answers

The answer is B.) you will need 3 cups of chocolate chips

For 7 dozens cookies 3 1/2 cups needed.

What is unitary method?

The unitary method is a technique for solving a problem by first finding the value of a single unit, and then finding the necessary value by multiplying the single unit value.

Given:

For 3 dozen cookies = 1 1/2 cups = 3/2 cups

For 1 dozen cookies = 3/2 * 1/3 = 1/2 cups needed

So, for 7 dozen cookies = 1/2 * 7

= 3 1/2 cups needed

Hence, for 7 dozens cookies 3 1/2 cups needed.

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Help I will be marking brainliest!!!

A. 22
B. 44√2
C. 22√2
D. 44

Show work, if possible. Thanks❤️

Answers

Answer:

I'm doing some of these questions now in my math class. I think it's D) 44 sorry if I'm wrong tho

Answer:

Step-by-step explanation:

Since the hypotenuse is 44 and the two sides are equal to FT we can say

2(FT)^2=44^2

FT^2=968

FT=22(2^(1/2))

So C is the correct answer.

The length of a picture frame is inches more than the width. For what values of x is the perimeter of the picture frame greater than inches?

Answers

9514 1404 393

Answer:

x > 35

Step-by-step explanation:

The perimeter is twice the sum of length and width. You want x such that ...

P > 156

2(x +(x+8)) > 156

4x +16 > 156 . . . . . simplify

x +4 > 39 . . . . . . . . divide by 4

x > 35 . . . . . . . . . . . subtract 4

The perimeter of the frame will be greater than 156 inches for x > 35.

can yall pls help wit this pls asap
i will mark you brainliest if u are correct first

Answers

Answer: 4955.30

Step-by-step explanation:

F = P (1+i)^n

F = $4000 (1+.055)^4

F = $4955.2986

Which will be 4955.30

Answer:

A. $4955.30

Step-by-step explanation:

Look at the equation

A(t)= P(1+r)^t

In this equation,

A(t) is your amount after a period of time,

P is the initial balance stated in the question (4000)

r is the rate (must be converted to a decimal) as stated in the question (0.055)

t represents the amount of time that has passed (4 years)

Whenever you plug this into the equation, you get

A(t) = 4000(1.055)^4 and this can be plugged into a calculator to get your answer which will be

4955.29 (round up to .3) and your final answer is A. 4995.30

In order to convert from percent to decimal you just need to move the decimal to the left two places

5.5 becomes 0.055 after the decimal is shifted

If we give the cashier a $20 bill for a shirt that costs $22.95, how much more do we owe the cashier?

Answers

Answer:

$2.95

Step-by-step explanation:

$22.95-$20

we owe the cashier $2.95

explanation:
20 - 22.95 = -2.95

What's 64/4 in the simplest form

Answers

Answer:

Step-by-step explanation:

64 divided by 4 is equal to 16.

64 can be divided by 4 perfectly, so 16

I need help due in a Hour

Answers

Answer:

2.6

Step-by-step explanation:

Answer:

a = 3.6

Step-by-step explanation:

[tex] \frac{2}{3} (6a + 9) = 20.4 \\ \\ \bigg( \frac{2}{3} . \boxed{6a} \bigg) + \bigg(\boxed{ \frac{2}{3}} . {9} \bigg) = \boxed{ 20.4} \\ \\ (2.2a) + (2.3) = 20.4 \\ \\ 4a + 6 = 20.4 \\ \\ 4a = 20.4 - 6 \\ \\ 4a = 14.4 \\ \\ a = \frac{14.4}{4} \\ \\ a = \boxed{3.6}[/tex]

2/3*6a+2/3*9=20.4
= 4a+6=20.4
= a=14.4/4
= a=3.6

How many minutes would it take a drone to travel 100 km at a speed of 40 km/min?

Answers

Answer:

Divide

Step-by-step explanation:

If you divide them then you get 2.5

Answer:

Kilometers per hour is often used for car speeds. One hour at this speed moves you 100 km

Step-by-step explanation:

i have a headache sorry if wrong

Find the volume: 7cm 16 cm 8 cm

Answers

Answer: Greetings my dude. The volume of the triangular prism is around 1,138 Centimeters Cubed.

Hope this helps!

Answer:

volume = length * breadth * height

= 16*7*8

=896

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