Nigel deposited $7000 into a savings account in which interest is compounded semiannually at a rate of 2. 38%. Assuming he makes no other deposits or withdrawals, how much will be in his account after 14 years?

Answers

Answer 1

The total amount that will be in Nigel's account after 14 years is $9,748.79

What is compound interest?

Compound interest is the interest calculated on the principal and the interest accumulated over the previous period.

Principal amount P

= $7000

Since interest is compounded semiannually,

Then, t will be compounded 28 times in 14 years.

Formula for compound interest is

= P ( 1 + R / 100 )^N

Where

A is the amount after N years

P is the principal amount

R is the rate

So, the total amount after 14 years

= 7,000 ( 1 + 2.38 / 100 ) ^ 28

= $9,748.79

Hence, the total amount in Nigel's account after 14 years is $9,748.79.

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Related Questions

Describe the similarities between the great depression and america's housing

Answers

Answer:

The similarity between the Great Depression and America’s housing and economic crisis that began in 2008 is:

They were business investments

According to the events which occurred during the Great Depression, there was a reduction of over half in the industrial production as there was a great financial loss based on the money invested in the industry.

As a result of this, we can see that although the housing and economic crisis and the Great Depression were similar because they were business investments, the effects of the Great Depression was greater.

Explanation:

Assume leisure is an inferior good instead of a normal good. the income effect of a wage increase will lead to a​ ________ demand for leisure and a​ ________ labor supply.

Answers

Answer:

decreased

increased

Explanation:

decreased-this means that you do not need leisure as an important aspect of your life. therefore the time or the money that you could spend in leisure will be saved or invested in another thing.

Increased

the time that was supposed to be spent in leisure will a ternative Lee be used in a productive way.

Which among the organisms on earth has the greatest number identified or named

Answers

Answer:

insects

Explanation:

Laura sees a horse pulling a buggy. Which statement best describes the forces acting on the horse and buggy? the net forces exerted on the horse and cart are the same, but the action force is larger. The net forces exerted on the horse and cart are the same, but they are in the same direction. The net forces exerted on the horse and cart are not the same, so the two forces cancel out. The net forces exerted on the horse and cart are not the same, so they are not balanced forces

Answers

The statement which best describes the forces acting on the horse and buggy is: D. The net forces exerted on the horse and cart are not the same, so they are not balanced forces.

The two types of force.

In Science, there are two (2) main types of force that act on all objects and these include:

Unbalanced forceBalanced force

What is a balanced force?

A balanced force refers to a type of force that is only produced when two or more forces (net forces) that are acting on an object (buggy) are equal in magnitude and as such, it does not result in a change of motion (acceleration).

In this scenario, the net forces exerted on the horse and cart are not equal or the same in magnitude, so they are not balanced forces. Thus, resulting in a change of motion of the buggy.

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Answer:

d

Explanation:

What is the best analysis of the casual relationship in this scene? this decision will cause caesar to flee from rome. This decision will cause the conspirators to abandon their plot. This decision will cause cassius to act on his plans more urgently. This decision will cause cassius and casca to move on without brutus’s decision

Answers

Answer:

C. This decision will cause Cassius to act on his plans more urgently.

Explanation:

edge

The best analysis of the casual relationship in this scene is that: B. This decision will cause Cassius to act on his plans more urgently.

The tragedy of Julius Caesar.

In this exercise, the excerpt was taken from a literary work titled "The tragedy of Julius Caesar" in part 2; which illustrated a casual relationship between the characters, Cassius and Brutus.

Based on the The tragedy of Julius Caesar, we can deduce that the decision taken by Cassius will cause him to act on his plans more urgently.

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At which event must special care be taken when preparing food for the guests servsafe

Answers

Explanation:

if it is based on meal service it is buffet

An event that includes special care when preparing food for the guests is suitable when you invited them for special occasions in order to bring the closeness of relations with you.

Why special care must be taken for guests?

Special care must be taken in order to serve guests with love, happiness, and dignity. This determines your standard of living, character, and activeness in front of them. If the guest is diabetic, it must be taken care of that the sweets are completely avoided or are prepared sugar-free.

It is required to take the care necessary precautions like the quantity of added salt, the spiciness of the food as per the guest's recommendations, etc. must also be taken to ensure that the dining experience is improved.

When guests are invited over for lunch or dinner for events like marriage meetings, company meetings, club meetings, etc. special care must be taken.

Therefore, it is well described above.

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One bee leaves the hive and another bee leaves the flowerbed

Answers

is that the full question

Decide whether the sentence needs a "personal a" or not. Miramos ___ los leones en el zoológico. The "personal a" is necessary. The "personal a" is not necessary

Answers

Just keep it the way without any add ins so it stays correct

the answer is That "personal a" is not necessary.

Explanation:

I took test

What is a theme of the play the glass menagerie? select the two correct answers.

Answers

Answer:

memory and nostalgia and gender roles

Explanation:

The glass menagerie takes place in toms memory the relationships represent the entrapment of each other.

Memory and nostalgia and gender roles the glass menagerie takes place in toms memory the relationships represent the entrapment of each other.

What is a theme?

A theme simply has means the main idea that can be found in the literary work. It is the underlying message in the story. In this case, the themes of The Glass Menagerie are the one should be always live in the present but the plan for the future and it has the better to face the reality than to live in the fantasy world.

The theme of  the story The Glass Menagerie include that one should always live in the present but the plan for the future. It has better to face the reality than to live in the fantasy world.

The Glass Menagerie has a "memory play" in which the Tom reminisces about his childhood during the Great Depression. It has depicts his mother, Amanda, attempting to retain a lost gentility in the face of abject poverty and cajoling her children into her vision of happiness.

Therefore, Memory and nostalgia and gender roles the glass menagerie takes place in toms memory the relationships represent the entrapment of each other.

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Lesson 18 understand properties of transformations answer key

Answers

Understanding the properties of transformation means knowing the different ways in which a figure can be moved. These movements are:

You can slide the figure = TranslationYou can reflect the figure = ReflectionYou can rotate the figure = Rotation

What is transformation?

Transformation is the modification or a shift in the shape and/or size of a figure. Majorly there exists three (3) types of transformation that change the shape of a figure from one place to another.

Translation: This is the movement of each point in the same direction with the same distance.Reflection: This is the flipping of a figure through an imaginary line.Rotation: This occurs via the turning of a figure at an axis of a fixed point.

To understand the properties of transformation means to know the different ways in which a figure can be moved. These movements are:

You can slide the figure = TranslationYou can reflect the figure = ReflectionYou can rotate the figure = Rotation

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Darwin explained that evolution occurred by a mechanism called choose... . the environment determines the choose... of an organism, which depends on choose... that help the organism survive and reproduce.

Answers

Answer:

Darwin created the Theory of evolution

Explanation:

This theory expanded species and fossils and expanded species and organisms over time.

Answer:

Explanation:

Darwin explained that evolution occurred by a mechanism called

natural selection. The environment determines the fitness of an organism, which depends on adaptations that help the organism survive and reproduce.

In the circuit shown above, the current through the ammeter is 20 ma and the voltmeter indicates 1. 0 v. What is the current through the 40 ω resistor?

Answers

Answer:

i dont know bro but i have an idea but ill text it later

What does number 8 wire mean to New Zealanders?

Answers

Answer:

Accordingly, the term "number 8 wire" came to represent the ingenuity and resourcefulness of New Zealanders, and the phrase "a number 8 wire mentality" evolved to denote an ability to create or repair machinery using whatever scrap materials are available on hand.

Explanation:

What does number 8 wire mean to New Zealanders?

A spring with a spring constant of 400 n/m has a mass hung on it so that it stretches 10 cm. calculate how much mass the spring is supporting?

Answers

Answer:

4.1 kg

Explanation:

We'll begin by calculating the force acting on the spring.

Spring constant (K) = 400 N/mExtension (e) = 10 cm = 10/100 = 0.10 mForce (F) =?

F = Ke

F = 400 × 0.10

F = 40 N

Finally, we shall determine the mass. This can be obtained as follow:

Force (F) = 40 NAcceleration due to gravity (g) = 9.8 m/s²Mass (m) =?

m = F / g

m = 40 / 9.8

m = 4.1

Therefore, the mass the spring is supporting is 4.1 kg

For each of the numbers a, b, c, d, r, and s, state whether the function whose graph is shown has an absolute maximum or minimum, a local maximum or minimum, or neither a maximum nor a minimum. (enter your answers as a comma-separated list. )

Answers

Based on the fact that the graph is not given, the graph with similar question is given below. The use of the numbers a, b, c, d, r, and s, to state the functions is given below:

Absolute Maximum = sAbsolute Minimum = rLocal maximum = cLocal minimum = b, rNeither a maximum or minimum = ad

How do you know the maximum and minimum of a set of data?

The maximum and minimum is known to often  appear mostly at the first, second, and third quartiles in a set of values.

The maximum value of a graph is said to be the point where the y-coordinate is said to have the largest number or value. The minimum value is known to be the point on the graph where the y-coordinate is said to have the lowest value.

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If the density of a bar of gold is 19.3 g/cm3 and you cut it into 4 pieces, what is the density of each piece of gold?

Answers

The density of each piece of gold is 19.3g/cm³.

If the bar of gold has a density of 19.3g/cm³ and it is cut into 4 piece, each piece will retain the same density as initial bar of gold because density is an intensive property and it does not rely the amount of substance or sample.

What is Density?

Density is simply referred to as the mass of a unit volume of a substance.

It is expressed as;

[tex]p = \frac{m}{v}[/tex]

Where m is mass and v is volume.

Now, the ratio of two extensive property ( mass and volume ) will always give an intensive property.

Henec, Density is an intensive property.

Intensive property do not rely the amount of substance or sample, and they do not change due to conditions.

The density of each piece of gold is 19.3g/cm³.

If the bar of gold has a density of 19.3g/cm³ and it is cut into 4 piece, each piece will retain the same density as initial bar of gold because density is an intensive property and it does not rely the amount of substance or sample.

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Calvin deposits $400 in a savings account that accrues 5% interest compounded monthly. After c years, calvin has $658. 80. Makayla deposits $300 in a different savings account that accrues 6% interest compounded quarterly. After m years, makayla has $613. 4. What is the approximate difference in the number of years that calvin and makayla have their money invested? makayla invests her money 1 year longer. Makayla invests her money 2 years longer. Calvin invests his money 1 year longer. Calvin invests his money 2 years longer

Answers

Using compound interest, it is found that the approximate difference in the number of years that calvin and makayla have their money invested is given as follows:

Makayla invests her money 2 years longer.

What is compound interest?

The amount of money earned, in compound interest, after t years, is given by:

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

In which:

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.

For Calvin, the parameters are given as follows:

[tex]P = 400, r = 0.05, n = 12, A(t) = 658.8[/tex]

Hence:

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

[tex]658.8= 400\left(1 + \frac{0.05}{12}\right)^{12t}[/tex]

[tex]\left(1 + \frac{0.05}{12}\right)^{12t} = \frac{658.8}{400}[/tex]

[tex](1.00416666667)^{12t} = 1.647[/tex]

[tex]\log{(1.00416666667)^{12t}} = \log{1.647}[/tex]

[tex]12t\log{1.00416666667} = \log{1.647}[/tex]

[tex]t = \frac{\log{1.647}}{12\log{1.00416666667}}[/tex]

[tex]t = 10[/tex]

For Makayla, the parameters are given as follows:

[tex]P = 300, r = 0.06, n = 4, (t) = 613.4[/tex]

Hence:

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

[tex]613.4 = 300\left(1 + \frac{0.06}{4}\right)^{4t}[/tex]

[tex]\left(1 + \frac{0.06}{4}\right)^{4t} = \frac{613.4}{300}[/tex]

[tex](1.015)^{4t} = 2.0447[/tex]

[tex]\log{(1.015)^{12t}} = \log{2.0447}[/tex]

[tex]12t\log{1.015} = \log{2.0447}[/tex]

[tex]t = \frac{\log{2.0447}}{4\log{1.015}}[/tex]

[tex]t = 12[/tex]

12 - 10 = 2, hence Makayla invests her money 2 years longer.

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Which of the following best describes an advantage of burning biomass rather than burning fossil fuels in developing countries?

Answers

The advantage burning biomass has over burning fossil fuels in the developing countries is: the production of biomass is cheaper compared to fossil fuel extraction, which makes it more readily available for use.

What is Biomass?

Biomass can be described as materials that are plant-based which are used to generate heat or electricity, such as energy crops, waste from farms and households, wood and wood residues.

In the developing countries, these biomass sources are cehaper to generate compared to fossil fuels.

Therefore, the statement that best describes the advantage burning biomass has over burning fossil fuels in the developing countries is: the production of biomass is cheaper compared to fossil fuel extraction, which makes it more readily available for use.

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What kind of sequence is the pattern 15, 17, 20, 24, 29, ...?

Answers

15
1+1
17
1+1+1
20
1+1+1+1
24
1+1+1+1+1
29
So it’s +1 each time

Nevaeh ran 21 kilometers in 5 hours. If she ran at a constant speed, how many kilometers did she run in 2 hours?

Answers

Answer:

the answer is 8.1

Explanation:

21 ÷ 5= 4.1 ×2 = 8.1

Which potential energy diagram represents the change in potential energy that occurs when a catalyst is added to a chemical reaction?

Answers

The dotted line showing a new potential energy diagram with a shorter activation energy hill than that in the original potential energy diagram best represents it.

What is Potential energy?

This is the type of energy present in a body by virtue of its position.This can be converted to various forms of energy.

In a chemical reaction, the change in potential energy that occurs when a catalyst is added to a chemical reaction is best represented by dotted line showing a new potential energy diagram with a shorter activation energy hill than that in the original potential energy diagram.

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What is the sum of the exterior angles of a 25-gon

Answers

Answer:

the answer is 15 gon

parce que la moitié de 25 ses 15 donc si on calcule aa fait 15 enft jsp jfait sa pr les points

It is likely for a student to trip while running the hurdles for the first time. which could be the probability of a student tripping when running the hurdles for the first time?

Answers

The probability of a student tripping when running the hurdles for the first time is high.

What occurs if you run through the hurdles?

Runners are known to be remain in their assigned lanes in all  of a race, and, even though they may knock hurdles down while running over.

Note that based on the fact that runner is tripping when running the hurdles for the first time, it will have high of putting down hurdles but constant practice will help one overcome it.

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In a fixed volume, when temperature decreases, pressure

Answers

Explanation:

the pressure increases. Because the temperature of a gas is proportional to the average kinetic energy of the gas molecules. The particles moving faster collide with the walls of the container frequently with greater force. This causes the force on the walls of the container to increase so as the pressure increases.

In a human karyotype, there are 46 chromosomes (23 pairs). If we choose one pair, such as pair 11, what do the two chromosomes of the pair have in common?

Answers

The common features include length, centromere position and staining patterns. Moreover, the same phenotypic traits are coded for by the genes of both homo-logous chromosomes.

What are homo-logous chromosomes?

Homo-logous chromosomes are chromosomes in the cell of an individual that contain the same or nearly identical nucleotide sequences.

Humans have diploid cells, which means that our somatic (body) cells contain two complete sets of homo-logous chromosomes.

Homo-logous chromosomes exhibit very similar characteristics in a karyotype simply due to sequence homo-logy.

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I ready 8 mathematics practice and problem solving

Answers

Answer:

Wait whats ur question? I can help and then edit this to answer ur question :)

Explanation:

Natalia paid $38. 95 for three medium-sized pizzas and a salad. Solve an equation to find the cost of one pizza, p, if natalia paid $11. 98 for the salad. Enter your answer in the box

Answers

Answer:

8.99

Explanation:

we have to divide 38.95-11.98 and divide the answer with three.

A mixed reality application detects the spatial layout of a room.

Answers

tethering is the answer

Which statement best describes the theme of a fictional text? a theme is stated during the exposition of a text. A theme is character’s opinion about a topic. A theme is an idea about a topic developed throughout the work by the author a theme is a dilemma faced by a character in the text

Answers

Answer:

C: A theme is an idea about a topic developed throughout the work by the author

Explanation:

Took the quiz.

The true statement is (c): A theme is an idea about a topic developed throughout the work by the author

How to describe a theme?

In a play, fictional text or any similar literature; themes are used to convey the main idea about the subject or topic.

Themes can be one of (or a mix of) the following forms

CharactersSettingDialoguePlot

Hence, the true statement about a theme is (c)

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Water vapor is an example of what type of solution?

Answers

Answer:

Explanation:

A solution means it is a 'homogenous' mixture. That is its composition and properties are uniform throughout the mixture. In case of water vapour in air(and also dust in air) it is not a homogenous mixture therefore cannot be considered as a solution.

Answer:

Gases

Explanation:

Water Vapor is like gases since it is in the form of a gas. There is little water molecules mixed in the water. So it is a GAS solution

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