David’s bank offers a 36-month Certificate of Deposit (CD) with an APR of 2.25%. Use the compound interest formula to answer the following: a) If P = 2000, what is A(8)? b) Solve the equation A(t) = 4000 for t. c) What principal P should be invested so that the account balance is $2000 in three years?

Answers

Answer 1

Using compound interest, it is found that:

a) A(8) = 2389.66

b) t = 31.15

c) P = 1870.85

Compound interest:

[tex]A(t) = P\left(1 + \frac{r}{n}\right)^{nt}[/tex]

A(t) is the amount of money after t years.  P is the principal(the initial sum of money).  r is the interest rate(as a decimal value).  n is the number of times that interest is compounded per year.  t is the time in years for which the money is invested or borrowed.

In this problem:

The APR is of 2.25%, hence [tex]r = 0.0225[/tex].No information about the number of compounding per year, hence [tex]n = 1[/tex].

Item a:

[tex]P = 2000[/tex], hence:

[tex]A(t) = P\left(1 + \frac{r}{n}\right)^{nt}[/tex]

[tex]A(8) = 2000\left(1 + \frac{0.0225}{1}\right)^{8}[/tex]

[tex]A(8) = 2389.66[/tex]

Item b:

[tex]A(t) = 4000[/tex], hence:

[tex]A(t) = P\left(1 + \frac{r}{n}\right)^{nt}[/tex]

[tex]4000 = 2000\left(1 + \frac{0.0225}{1}\right)^{t}[/tex]

[tex](1.0225)^t = 2[/tex]

[tex]\log{(1.0225)^t} = \log{2}[/tex]

[tex]t\log{1.0225} = \log{2}[/tex]

[tex]t = \frac{\log{2}}{\log{1.0225}}[/tex]

[tex]t = 31.15[/tex]

Item c:

[tex]A(3) = 2000[/tex], hence:

[tex]A(t) = P\left(1 + \frac{r}{n}\right)^{nt}[/tex]

[tex]2000 = P\left(1 + \frac{0.0225}{1}\right)^{3}[/tex]

[tex]P = \frac{2000}{(1.0225)^3}[/tex]

[tex]P = 1870.85[/tex]

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Step-by-step explanation:

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How do you write 17/5 as an mixed number

Answers

Answer:

3 2/5

Step-by-step explanation:

17/5= 3 2/5

Answer:

First find the nearest number divisible by 5 to get a whole number returned

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so the ‘big’ (as I like to call it) number or the integer that isn’t part of the fraction would be 3.

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Answers

Answer:

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Step-by-step explanation:

Parallel lines have equal slopes

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Roxana makes bracelets and necklaces and sells them at the farmers’ market. She sells the bracelets for $12 each and the necklaces for $18 each. At the market next weekend she will have room to display no more than 40 pieces, and she needs to sell at least $500 worth in order to earn a profit. (Thank you so much for anyone who answers it

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Answer:

She could out 20 necklaces and 20 bracelets on display and she would make $600.

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totalling $600

(3^-2 × 4^-2)^-3 = 12^x
In the given expression find the value of x.​

Answers

Given that (3^-2×4^-2)^-3 = 12^x

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Lauren needs to invest $9948.99 for this purpose.

Answer the following problem using the SOLVE Method Math Club members are selling Math club members are selling Pi Day T-shirts for $7.50 each. The goal is to raise $500 by Friday. The figure below shows how much they have raised by Wednesday. What is the minimum number of T-shirts they must still sell in order to reach their goal? Explain your reasoning.

Answers

The minimum number of T-shirt that they must sell to raise $500 is 67 T-shirts

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Answers

Answer:

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Answers

Answer:

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Answer:

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Answer:

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Answer:

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Step-by-step explanation:

Answer: Or 9/5 Have a great day :)

Step-by-step explanation:

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Step-by-step explanation:

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133°

Step-by-step explanation:

The angle X is the same as the given.

TRANSVERSAL LINE

[tex]\mathbb{ANSWER:}[/tex]

⇒ The two parallel lines are cut by a transversal so the interior angles on the same side of a transversal are congruent. This means that the measurement of the second angle is also 133 degrees.

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Answers

Answer:

Step-by-step explanation:

y+2 = -12(x-4)

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Draw a graph with the points (1,34) and (3,10)

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Answers

Answer:

[tex]3 \frac{13}{44} [/tex]

Step-by-step explanation:

First let's write our equation

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You have a coupon for 25% off the price of a mystery book that sells for $7.00. You also have one for 20% off the price of a science fiction book that sells for $6.25. You have $5.00. Which book can you afford to buy? Explain.​

Answers

Answer:  you can afford to buy both

as $1.75+$1.25 adds up to $3 leaving you $2 to spare.

Step-by-step explanation-

Mystery book: 25% of 7.00= 1.75 ($1.75)

Science Fiction: 20% of  6.25=1.25 ($1.25)

Answer:

You can afford the science fiction book.

Step-by-step explanation:

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$7.00 × 0.25 = $1.75

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$7.00 - $1.75 = $5.25

The mystery book will cost $5.25.

How to get the price of the 20% coupon:

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To get the price of the science fiction book using the coupon:

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The science fiction book will cost $5.00.

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