Anna invested $28,000 in an account paying an interest rate of 6.5% compounded daily. Assuming no deposits or withdrawals are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach $39,500?

Answers

Answer 1

Answer:

It will take 5.3 years to reach $39,500

Step-by-step explanation:

Compound Interest

It occurs when the interest is reinvested rather than paying it out.

Interest in the next compound period is then earned on the principal sum plus the previously accumulated interest.

The formula is:

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

Where:

A = final amount

P = initial principal balance

r = interest rate

n = number of times interest applied per time period

t = number of time periods elapsed

We are required to find the time needed to convert the principal P into a given final amount.

Solving the above equation for t, we get:

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

Anne invested P=$28,000 in an account at r=6.5%=0.065 compounded daily. There are 360 days in a year, so n=360. The final amount A=$39,500.

Substituting into the formula:

[tex]\displaystyle t=\frac{log(39,500/28,000)}{360\cdot log\left(1+0.065/360\right)}[/tex]

t=5.3 years

It will take 5.3 years to reach $39,500

Answer 2

Answer:5.3

Step-by-step explanation:


Related Questions

6x^2+4x-2
Factor the trinomial

Answers

Answer: 2 (3x-1) (x+1)

Step-by-step explanation: Add and subtract the second term to  the expression and factor by grouping.

Need help asap thank you

Answers

Answer:

D is 107 and E is 38

Step-by-step explanation:

20x+40=180

20x=140

X=140/20

x=7

M<A=5(7)+3

38

m<a=m<e

15(7)+2

107

m<b=m<d

Which list contains all of the factors of the number 48? (1 point)
O1, 2, 3, 4, 6, 8, 12, 16, 24
O2, 3, 4, 6, 8, 12, 16, 24, 48
O1, 2, 3, 4, 6, 8, 12, 16, 24, 48
O1, 2, 3, 4, 6, 8, 9, 12, 16, 24. 48

Answers


1, 2, 3, 4, 6, 8, 12, 16, 24, 48

Answer:

1,2,3,4,6,8,12,24,48.

Step-by-step explanation:

To Find A Factor Of A Number You'll Need To Find Two numbers by which you multiply to get the number you're looking for.

SO TO FIND THE FACTOR OF 48 YOU WILL NEED TO FIND TWO NUMBERS THAT CAN MULTIPLY EACH OTHER AND GIVE A PRODUCT OF 48

1×48=48(Any number multiplied by 1 is the number itself and 1 multiplied by 48 is 48 so it makes it a factor)

2×24=48(Here you can clearly see that when 2 is multiplied by 24 the product is 48 so 2 and 24 becomes a factor of 48)

3×16=48(So getting the product 48 by multiplying 3 and 16 3 and 16 becomes a factor of 48)

4×12=48(You can see that when you multiply 4 by 12 the product is 48 so 4 and 12 becomes a factor of 48)

5×?=48(You can't get any number to multiply by 5 to get 48 so the number 5 is not a factor of 48)

6×8=48(With this you can see that when 6 is multiplied by 8 its product is 48 so it becomes a factor of 48)

So The Factors We Got After We Multiplied The Two Numbers Are As Follows;

1 and 48

2 and 24

3 and 16

4 and 12

So the above numbers becomes the factor of 48

So the factors of 48 are: 1,2,3,4,6,8,12,24,48.

PLZZZ HELPP ITSS A EXAMMM
What is the fiftieth term of the arithmetic sequence 3, 7, 11, 15, ... ?

A.199
B.151
C.53
D.203

Answers

Answer:

If i did the math correctly it should be 199.

~WILL GIVE BRAINLIEST~ What is the slope of this line (in the picture)? Enter your answer as a fraction in simplest term in the box.

Answers

Answer:

-2/2 wich is equal to -1

Step-by-step explanation:

If u understand this May u help me please

Answers

Answer:

Sure what you need help with?

Step-by-step explanation:

I need this in less than 20 minutes!! Any help is appreciated!

Answers

Answer:

Answer is x=-2

Step-by-step explanation:

Answer:

2

Step-by-step explanation:

The answer is C which is 2

At the party ⅗ of a pie are eaten.
Jo eats ⅘ of what is left.
What fraction of the pie does Jo eat?
(could you show your work:))​

Answers

Answer:

1/10 of the pie

Step-by-step explanation:

Step-by-step explanation:

5/5-3/5=2/5

2/5-4/5 of itself

This leave 1/5 of 2/5

if we make this decimals then it becomes 0.40

0.40/5=0.08

or 8/100,4/50,2/25

my bros if 1+1 was to = 3 would 2+2=5?​

Answers

Answer:

No

Step-by-step explanation:

1+1=2 2+2=4

Henry bought 4 pies, which he plans to share with a group of his friends. If there is exactly enough to give each member of the group one-sixth of the pie, how many people are in the group?

Answers

Answer:

4 divided by 1/6 is 4 times 6 which equals 24

Step-by-step explanation:

Answer:

24

Step-by-step explanation:

You basically need to do 4x6 because there are four pies and you're giving out 1/6 of them to each person

You spend 3 2/3 hours hiking and an additional 3/4 hour to rest.

A) How much time did you spend hiking and resting?

____ Hours

B) How much more time did you spend hiking than resting?

____ Hours

Explain how you got your answer.​

Answers

Answer:

A: 3 hours and 55 minutes

B: 3 hours and 40 minutes more time hiking than resting.

Step-by-step explanation:

solve for R
D = RT
PLZ HELP ME

Answers

Answer:

Distance = Rate x Time

Is that what you are trying to figure out?

Answer:

R=D/T

Step-by-step explanation:

since D equals R times T, R would equal D divided by T

What is the the slope of the line through the following points?(7,-4) and (3,8)
3
-3
1
o 1

Answers

Answer:

-3

Step-by-step explanation:

Which matrix represents matrix C?

Answers

Answer:

The C programs in this section perform the operations of Addition, Subtraction and Multiplication on the 2 matrices. The transpose of a matrix is the interchange of rows and columns.

why are 6, 8, 10, 5, 12, 13 the pythagorean triples

Answers

this is because if you do the pythagorean theorem with 6, 8, and 10 you will find that squaring 6 and 8 and adding them will equal 10^2. Same with 5 12 and 13

Given g(x) = 2x + 1, solve for x when g(x) = 7.

I hate algebra and really don’t get it so plz help

Answers

Answer:

x=3

Step-by-step explanation:

7

=

2

+

1

7=2x+1

7=2x+1

Solve

1

Subtract

1

1

1

from both sides of the equation

7

=

2

+

1

7=2x+1

7=2x+1

7

1

=

2

+

1

1

7{\color{#c92786}{-1}}=2x+1{\color{#c92786}{-1}}

7−1=2x+1−1

2

Simplify

3

Divide both sides of the equation by the same term

4

Simplify

Solution

3

=

Answer:

x=3

Step-by-step explanation:

g(x)=7

7=2x+1

subtract 1 on both sides

6=2x

divide by 2 on both sides

x=3

What is the solution to the inequality below? 2(x -1) - 4(x + 2) < 5x

Answers

Answer:

[tex]\boxed {x > -\frac{10}{7}}[/tex]

Step-by-step explanation:

Solve the given inequality:

[tex]2(x - 1) - 4(x + 2) < 5x[/tex]

-Use Distributive Property:

[tex]2(x - 1) - 4(x + 2) < 5x[/tex]

[tex]2x - 2 - 4x - 8 < 5x[/tex]

-Combine like terms:

[tex]2x - 2 - 4x - 8 < 5x[/tex]

[tex]-2x - 10 < 5x[/tex]

-Subtract both sides by [tex]5x[/tex]:

[tex]-2x - 10 - 5x < 5x - 5x[/tex]

[tex]-7x - 10 < 0[/tex]

-Add both sides by [tex]10[/tex]:

[tex]-7x - 10 + 10 < + 10[/tex]

[tex]-7x < 10[/tex]

-When you are dividing a integer by a negative integer, the inequality sign would change. So, divide both sides by [tex]-7[/tex]:

[tex]\frac{-7x}{-7} < \frac{10}{-7}[/tex]

[tex]\boxed {x > -\frac{10}{7}}[/tex] (final answer)

y = 3x - 2 what is the answer

Answers

Answer:

[tex]x = \frac{2}{3}[/tex]  [tex]y = -2[/tex]  

I hope this helps!

If water flows through a pipe at a rate of 6 milliliters per hour, how wil I express this rate of flow in pints per day?

Answers

Answer:

0.304 pints per day

Step-by-step explanation:

Here, we want convert

if 6 milliliters flow in an hour , then in a day which is 24 hours, the amount that will flow is 24 * 6 = 144 milliliters in a day

so we need to convert this to pint

mathematically;

1 pints= 473.176 ml

x pints = 144 ml

x =

144/473.16 = 0.304 pints per day

In triangle TRS, TZ = (3x) inches and WZ = (2x - 3) inches. Triangle T R S has centroid Z. Lines are drawn from each point to the midpoint of the opposite side to form line segments T W, R V, and S U. [Figure may not be drawn to scale] What is WZ? 6 inches 9 inches 18 inches 27 inches

Answers

Answer:

it is 9

Step-by-step explanation:

The value of WZ will be equal to WZ= 9 inches so the correct option is B.

What is trigonometry?

The branch of mathematics sets up a relationship between the sides and the angles of the right-angle triangle termed trigonometry.

We have: U is the midpoint of TR, V is the midpoint of TS and W is the midpoint of SR

This means that.Z is the centroid of the given triangle centroid point divides any median in the triangle in the ratio of 2:1 from the vertex

This means that:

TZ = 2ZW

3x = 2(2x-3)

3x = 4x - 6

x = 6

Now, we get WZ as follows:

WZ = 2x - 3 and x = 6

WZ = 2(6) - 3

WZ = 12 - 3

WZ = 9 in

Therefore the value of WZ will be equal to WZ= 9 inches so the correct option is B.

The complete image of the triangle is attached with the answer below.

To know more about Trigonometry follow

https://brainly.com/question/24349828

#SPJ5

find the slope given (2,-7) and (-1,6)​

Answers

Answer:

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

Step-by-step explanation:

please help no work needs to be shown

Answers

i got 57.352 but i’m not 1000% sure

Find the measure of angle b.

Answers

6. 50° 7. 59° 8. 51° 9. 76° 10. 136° 11. 31° 12. 70° 13. 57° I explain it on paper...

help for some points!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Answers

Answer:

parallel, series

Step-by-step explanation:

The answer is A, Parallel, Series

6(2y-2)=36 what is the answer?

Answers

Answer:

y= 4

Step-by-step explanation:

e-intercept form.
2. (2, 4); slope
1
2
write the linear equation in slope-intercept form

Answers

to work this out you need to solve for your y-intercept. by using what you have.

once you do so you get the answer y=1/2x+3

Write an equation in slope-intercept form for the line graphed below.

Answers

Answer:

y = 2x - 5

Step-by-step explanation:

-5 because its the y-intercept where the line intercepts the y-axis

2x because it is your slope (the line jumps two units vertically every one unit horizontally)

|-4|=|4| true or false

Answers

Answer:

true

Step-by-step explanation:

Answer:

True

Step-by-step explanation:

the lines around the number represent the “absolute value” and so they will both be positive four, because “absolute values” are always positive.

. The equation y=5+0.5x represents the cost of getting a car wash and using the vacuum for x minutes. What is the y-intercept?

The y-intercept is 5.
The y-intercept is -5.
The y-intercept is 6.
The y-intercept is -6

Answers

The correct option is A. The y intercept is 5 and the slope is 0.5. When you write the equation in slope intercept form, by finding the x and y values, it is y=0.5x+5, therefore the y intercept is 5. You can find out by graphing the equation also but it wouldn’t be necessary.

4.82
write as a fraction or mixed number in simplest form

Answers

I'm pretty sure 4.82 as a simplified fraction is 241/50.

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