Let's say you (a 16-year old) open a savings account with an interest rate of 6% per year and you
aren't adding any additional funds in the future. If you make $80,000 within the year you turn 60, what
is the total amount in your account at 60 years old?

Answers

Answer 1

The total amount in the account when turning 60 years is A = $ 11,13,706.08

Given data ,

A savings account with an interest rate of 6% per year and you aren't adding any additional funds in the future

Now , you make $80,000 within the year you turn 60

So , the number of years = 60 - 16 = 44 years

And , from the compound interest , we get

A = P ( 1 + r/n )ⁿᵇ

On simplifying , we get

Where A is the final amount, P is the initial amount (which is 0 in this case), r is the annual interest rate (6% or 0.06), n is the number of times the interest is compounded per year (let's assume it is compounded monthly, so n=12), t is the time in years (44 years from age 16 to age 60).

A = 80,000 ( 1 + 0.06/12 )¹²ˣ⁴⁴

A = $ 11,13,706.08

Hence , the amount in account is A = $ 11,13,706.08

To learn more about compound interest click :

https://brainly.com/question/21270833

#SPJ1


Related Questions

Evalute 4+(7-5)⁴?
PLEASE HELP

Answers

Answer:

The answer is 20

Step-by-step explanation:

(7-5)=2

2^4 = 16

16 + 4 = 20

Do
10 cm
10 cm
20 cm
form an triangle?

Answers

Answer:

No it is unable to form a triangle.

Step-by-step explanation:

It cannot be because one side is two times the other side, and there are two of the "other sides". It cannot form a triangle.

Answer:

Step-by-step explanation:

This is the question I need the answer in 24 house or less please and thank u

Answers

Answer:

Vertex: (–9, 1)

Axis of Symmetry: x = –9

Step-by-step explanation:

x = 9 is the lowest point on the graph. This makes it the x-coordinate of the vertex and the axis of symmetry. Now count how many squares above the x-axis it is. It's 1 square above, right? This means the vertex is (–9, 1).

Hope this helps you. Have a great day!

A submarine is 84 feet below the surface of the water and descends 10 feet
deeper every minute. How many minutes will it take for the submarine to be
located 219 feet below the surface? Write and solve an equation,

Answers

Answer:

13.5

Step-by-step explanation:

219-84=135

10*13.5=135

so it would take 13.5 minutes to get to 219 since 84+135=219

100% of what equals 12​

Answers

Answer:

12

Step-by-step explanation:

How many 1/2 cup servings are in 6 cups of grapes?

Answers

Answer:

There are 12

Step-by-step explanation:

hope this helps.

There is 12 1/2 servings in 6 cups of grapes

Which of these best describes a pair of supplementary angles?


a . Two angles whose sum is 90°.

b . Two non-adjacent angles formed by the intersection of two lines.

c . Two angles whose sum is 180°

d . Two angles that share a common side and vertex with no common interior points.

Answers

Answer:

c . Two angles whose sum is 180°

Step-by-step explanation:

Hope it helps you in your learning process

Find the vertex of the graph of the quadratic function f(x)=7x2+14x+10

Answers

Answer:

plazzz get lost bro fast

It will take 48 hours of work to complete the garden.
The garden must be finished in 3 days.
Each gardener works for 8 hours per day.
How many gardeners are needed?

Answers

6 Gardner’s because 48/8=6

which explains how to find the quotient of the division below -3 1/3 / 4/9​

Answers

KCF method
keep the first one the same, change the sign to multiplication, and flip the last fraction to its reciprocal.
(also change the first fraction to an improper fraction)
-10/3 x 9/4 = -90/12
-7.5 or -7 1/2

19 tens is the same
as
Count forward by fives.

Answers

19 tens is 190 but i don’t know what you mean by count forward by fives

what is 23 + 23 - 789

Answers

Answer:

743

Step-by-step explanation:

23+23=46

789-46=743

Answer:

743

Step-by-step explanation:

Question #4
The radius of a circle is 12 inches.
Enter the circumference of the circle, in inches. Round your answer
to the nearest hundredth.

Answers

Answer:

80.11 inches

Step-by-step explanation:

The formula to finding the circumference of a circle is:

C = 2πr (C = circumference, π = pi, r = radius)

Replace r with the radius:

C = 2π(12.75)

Now, multiply 2 times pi, then multiply that by 12.75, and the answer rounded

to the nearest hundredth is 80.11

What is the area of the figure?

Answers

Answer:

졌던 냥 샷 세 새 새 휴 여ㅔ헤헤헤헤헤헤하리ㅎㄴ하왕허웋ㅇ헝후오ㅡ아ㅗ여ㅏㅕ라ㅕ라ㅗㅇ렁셔 요 쇽뎌ㅕ려래ㅛ요ㅓㅓㅛ요ㅏ다ㅛ 또훙서 유ㅓ가ㅗㅗ히ㅓ

ㅍ피ㅓ리ㅓ히ㅓㅓ히ㅗ챠ㅗㅗ료ㅡ쵸ㅏㅇ

Step-by-step explanation:

ㅇㅎ겨개ㅛ교ㅑ아ㅛ려ㅐㄹ서넣요ㅏㅗㅏ차ㅗ셔ㅏ 로 홀ㅛㅕㅑ쇼ㅑ겻효ㅕ 껴ㅛㅕㅛ교ㅑ교ㅐ료ㅏ래ㅕ새ㅕ리ㅕㅐㅕㅔㅑㅣㅕ셔ㅐ ㅕㅣ셔ㅐㄱㅕㅔ샹샹허텋요ㅑ오툐ㅏ어ㅣ래ㅕ촤쳐ㅐ료ㅑ와타ㅛ낳와탸ㅛ와촤야ㅛ 유ㅗㅡ촤우ㅗ퇴롸러ㅣ혀ㅣ라ㅛㅌ샤 ㅗㅣ래ㅛ려ㅣ랴ㅛ아ㅗ처ㅣ촤여ㅣ리ㅕㅓ쵸ㅐ려ㅣㅓㅓㅣ리ㅓㄹㅗㅏ려ㅣ려ㅣ려ㅣㅣㅕㅛㅑㅓㅛ나굣이셔서ㅣㅣ시서ㅣ서소니서서서성섯여ㅣ햐ㅔㅅ하ㅕㅓ퍄샤도ㅕㅐ요ㅏㅗ럇냐ㅛ려ㅔㅐㅈ서ㅕㅣ세ㅕ엿처억 ㅣㅕ려

The population of a school will increase by 3% per year. In 2005, the population was 127 students. Use a graph to find when the population will be
Enter the correct year in the box.

Answers

Using an exponential function, it is found that the population will be of 350 students in the year of 2039, 34.3 years after 2005.

What is an exponential function?

An increasing exponential function is modeled according to the rule presented as follows:

[tex]A(t) = A(0)(1 + r)^t[/tex]

In which the parameters of the equation is defined as follows:

A(0) is the initial amount of the function.r is the growth rate of the function, as a decimal.

In the context of this problem, the values of the parameters are given as follows:

A(0) = 127, which is the number of students in the reference year of 2005.r = 0.03, which is the yearly increase rate.

Hence the equation for the number of students in t years after 2005 is given as follows:

[tex]A(t) = 127(1.03)^t[/tex]

The number will be of 350 students when A(t) = 350, hence:

[tex]A(t) = 127(1.03)^t[/tex]

[tex]350 = 127(1.03)^t[/tex]

[tex](1.03)^t = \frac{350}{127}[/tex]

[tex]\log{(1.03)^t} = \log{\left(\frac{350}{127}\right)}[/tex]

[tex]t\log{1.03} = \log{\left(\frac{350}{127}\right)}[/tex]

[tex]t = \frac{\log{\left(\frac{350}{127}\right)}}{\log{1.03}}[/tex]

t = 34.3 years.

34.3 years = during the year of 2005 + 34.3 = 2039. This result is shown by the graph at the end of the answer.

Missing Information

The problem asks for when the population will be of 350 students.

More can be learned about exponential functions at https://brainly.com/question/25537936

#SPJ1

A recent General Social Survey asked respondents how many close friends they had. For a sample of 1467 people, the mean was 7.4 and the standard deviation was 11.0. The distribution had a median of 5 and a mode of 4.Based on these statistics, would you expect this distribution to be bell-shaped, left skewed, or right skewed?

Answers

Answer:

This distribution should be expected to be right skewed.

Step-by-step explanation:

Pearson skewness:

The skewness of a data set is given by the subtraction of the mean by the mode, divided by the standard deviation.

If the coefficient is positive, the distribution is right skewed.

If the coefficient is negative, the distribution is left skewed.

If the coefficient is sufficiently close to 0(+/- 0.05), the distribution is bell shaped.

In this question:

Mean 7.4, mode 4, standard deviation 11

(7.4-4)/11 = 3.4/11 = 0.31

Positive coefficient, so right skewed.

Solve the equation
2x2 + 12x - 7 = 0
by completing the square.
Give your answers correct to 2 decimal places.
Show step by step please!!!!

Answers

Step-by-step explanation:

4+12x=7

12x=7-4

12x=3

X=3/12

X=0.25

The solution set in interval notation is ??

Answers

Answer:

Step-by-step explanation:

v= u + at, find v, when u = 12, a = 5 and t = 7

Answers

Answer:

V=47

Step-by-step explanation:

12+5x7

12+35

47

Answer:

Final velocity (v) = 47 m/s

Step-by-step explanation:

u = 12

a = 5

t = 7

v = ?

v = u + at (first law of motion)

v = 12 + (5 × 7)

v = 12 + 35

v = 47 m/s.

Slope of (-2,-1) and (2,-3)

Answers

SLOPE is the picture.

Point-Slope form is y+1=-1/2*(x+2)

The y=mx+b form is y=-1/2x-2

i hope its not confusing lol

a population consists of the five measurement 2,3,6,5 and 7. what is the mean?​

Answers

Answer:

4.6

Step-by-step explanation:

Jocelyn boils 24 eggs. From experience, she knows that the shell of any given during the boiling process. If shells crack independently, what is the probability the boiling process with a cracked shell? Round to 2 decimal places.​

Answers

Answer:

.62

Step-by-step explanation:

Keep it nice and simple.

Answer:

.62

Step-by-step explanation:

solve the equation 8 + b = 26 and b=

Answers

b=26-8
so the answer is b=18
B is equal to 18 hope this is correct

15x > - 60

Help and I’ll give u brainlist :)

Answers

Answer:

most likely 1 or 20 but im not so sure tho

Which set of ordered pairs represents a linear relationship?
A {(0, 1), (2, 2), (-2, 0), (4,3)}
B. {(0, -2), (1, 1), (-1,-3), (2, 3)}
C. {(0, -1), (1, 1), (-1,-2), (2,3)}
D. {(0, -2.5), (5, 2.5), (1, -2.5), (-1, -3.5)}​

Answers

Answer:

A

Step-by-step explanation:

The length of a rectangle is 3 meters greater than 2 times the width, The perimeter of rectangle is 30 meters

Answers

Answer: 1= A/w

Step-by-step explanation:

Name all digits that can be the last digit of prime numbers.

Answers

Answer:

1,2,3,5,7,9

Step-by-step explanation:

I started by seeing all the digits (0-9) which are prime numbers.

8) Which of the Prime number are
even numbers?
C
a) 0 & 2
b) 1 & 2
c) 2
ОО
d) None​

Answers

Answer C is correct

A bucket contains 13 & 1/3 gallons of water and is 5/6 full. How many gallons of water would be in a full bucket?

Answers

Answer:

16

Step-by-step explanation:

Answer:

17 2+2+2+2+2+2+2+2+1

Step-by-step explanation:

the bucket contains 13 and 6

Here again are the results of a survey that students conducted at a mall. The students conducted this survey as part of a statistics project to determine if younger adults are more likely to have tattoos. At least one tattoo No tattoo Row Totals Age 18 - 29 170 320 490 Age 30 - 50 60 445 505 Column Totals 230 765 995 Which proportions are most useful in analyzing the relationship between age and tattoos? Group of answer choices 170 / 230 and 60 / 230

Answers

Answer:

1. 170/490 and 60/505

2. 320/490 and 445/505

Step-by-step explanation:

No options were given, but the question can still be answered

Given

[tex]\begin{array}{cccc}{} & {\ge 1\ tattoo} & {0\ tattoo} & {Row\ Total} & {18 -29} & {170} & {320} & {490} & {30 - 50} & {60} & {445} & {505} & {Column\ Total} & {230} & {765} & {995}\ \end{array}[/tex]

Required

Which proportion best compares age and tattoos?

The row data represents the age range of each group while the column data represents the amount of tattoo by each group.

So, to make comparison:

You simply pick a cell data and compare it to the row total.

Take for instance

For those who have at least 1 tattoo. The proportion to use are:

170/490 --- For age range: 18 - 29

60/505 --- For age range: 30 - 29

For those without tattoo. The proportion to use are:

320/490 --- For age range: 18 - 29

445/505 --- For age range: 30 - 29

Other Questions
Aubree's parents invested $500 into a mutual fund that paid 6.5% interest each year compounded annually when she was born. Find the value of the mutual fund in 18 years. Which of the following equation(s) has/have slope zero?a. x = 2b.y = -3c. y = 5x+2d. x+ 5 = 0O Both a and cOnly cO Only bO Both a and d An Amazon Fulfillment Associate has a set of items that need to be packed into two boxes. Given an integer array of the item weights ( You are a parole officer who has a single mother with three hyperactive, attention deficit-disorder young children on your caseload. She receives no support from her ex-husband. Her mother wants nothing to do with her or the children because she believes God is punishing the young mother. She works as a topless dancer but hates it. She continues dancing because it pays the bills so well. You know she regularly smokes marijuana in an attempt to deal with stress. Obviously, this is a violation of probation. However, if you file a violation report on her, she will go back to prison. You know she is doing the best she can with her kids, is very involved with their school, and they are strongly bonded to her. You worry about what will happen to the kids.1.What would you do? Things to consider as you prepare Ethical judgment: Defer filing a violation report while you work with her to find a better means to support herself and kids. Moral Rules: One should treat each person as an end and not as a means.One should act in such a way that you will it to be a universal law.One should do what is best for everyone.One should do ones duty.Ethical system: A strict duty-based system might support filing a violation report, however, it depends on the definition of duty. It could be argued that a probation officers duty is not to automatically file violation reports, but rather to protect society. In this expanded view of duty, resolving the situation without filing a violation report might be Which of these statements are true about the relationship between public opinion and government policy if bikers keep riding at their respective constant rate how fat would stephanie and shaka have traveled after 10 hours CAB SOMEONE HELP ME ASAP PLS Chocolate costing $\$10$ per pound is mixed with nuts costing $\$4$ per pound to make a mixture costing $\$6$ per pound. What fraction of the mixture's weight is chocolate On january 1, year 1, raven limo service, inc. Paid $64,000 cash to purchase a limousine. The limo was expected to have a six year useful life and a $10,000 salvage value. On january 1, year 5 the limo was sold for $30,000 cash. Assuming raven uses straight-line depreciation, the company would recognize a. Recently, beagle boutique was attempting to hire a middle manager. they were looking for an intelligent, active, and creative individual. which approach to leadership was beagle using? SELECT ALL THAT APPLY. In a population of 250 students, 60% are Whites, 20% are Latinos, 15% are Blacks, and 5% others. In a proportionate stratified random sample of 120, ______. Solve the logarithmic equation. write the answer in exact, simplified form. log(-c) + log8= log (7c-75) 6 th history lesson no 1 short note question ______________ protect healthcare workers from exposure to bloodborne pathogens. ASAP PLEASE Which point us the coordinate of the image of A under the transformation [0 1 1 0] (-2,4)(2,4)(4,2)(-4,-2) The distribution of results from a cholesterol test has a mean of 180 and a standard deviation of 20. A sample size of 40 is drawn randomly. Find the probability that the sum of the 40 values is less than 7,100. (Round your answer to four decimal places.) What classifies a substance as an element?What classifies a substance as a compound?Actually, answer what the question is asking and give a short answer. No copying and pasting. Which algebraic expression is equivalent to the expression below 5(5x + 7) - 6 (4- 2x) i dont know how to do this Colonial governments had to settle disputes between religious groups during the first great awakening. As a result, the colonies became.