Elizabeth invested $970 in an account paying an interest rate of 6\tfrac{5}{8}6 8 5 ​ % compounded daily. Matthew invested $970 in an account paying an interest rate of 6\tfrac{3}{4}6 4 3 ​ % compounded continuously. After 8 years, how much more money would Matthew have in his account than Elizabeth, to the nearest dollar?

Answers

Answer 1

Using continuous compounding and compound interest, it is found that Matthew would have $17 more than Elizabeth in his account.

Compound interest:

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

Continuous compounding:

[tex]A(t) = Pe^{rt}[/tex]

The parameters are:

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 both of them:

Investment of $970, hence [tex]P = 970[/tex]

Invested for 8 years, hence [tex]t = 8[/tex]

Elizabeth:

Compounded daily, hence [tex]n = 365[/tex].

Rate, as a percent, of [tex]6\frac{5}{8} = 6 + \frac{5}{8} = 6.625[/tex], hence [tex]r = 0.06625[/tex].

Then:

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

[tex]A(8) = 970\left(1 + \frac{0.06625}{365}\right)^{365(8)}[/tex]

[tex]A(8) = 1648[/tex]

Matthew:

Rate, as a percent, of [tex]6\frac{3}{4} = 6 + \frac{3}{4} = 6.75[/tex], hence [tex]r = 0.0675[/tex].

Then:

[tex]A(t) = Pe^{rt}[/tex]

[tex]A(8) = 970e^{0.0675(8)}[/tex]

[tex]A(8) = 1665[/tex]

The difference is:

1665 - 1648 = 17

Hence, Matthew would have $17 more than Elizabeth in his account.

A similar problem is given at https://brainly.com/question/24507395


Related Questions

Lucy has some number cards that each have a whole number on them.
If she chooses a card at random, the probability that the number on it is
even is
3/7

Work out the ratio of even cards to odd cards that Lucy has.
Give your answer in its simplest form.



PLEASE HELP BRAINLIST TO FASTEST AND CORRECT ANSWER

Answers

Answer:

Well lucy has a 50/50 chance to get a odd card so that is it

Step-by-step explanation:

The ratio of even cards to odd cards that Lucy has is 3:4 in its simplest form.

Let's denote the number of even cards as "x" and the number of odd cards as "y".

The probability of choosing an even card is given as [tex]\frac{3}{7}.[/tex]

The probability of choosing an even card is calculated by dividing the number of even cards by the total number of cards:

Probability of choosing an even card = Number of even cards / Total number of cards

Therefore, we have:

[tex]\frac{3}{7} = \frac{x}{x+y}[/tex]

To find the ratio of even cards to odd cards, we can set up the equation:

[tex]\frac{x}{y} = \frac{3}{4}[/tex]

Therefore, the ratio of even cards to odd cards that Lucy has is 3:4 in its simplest form.

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https://brainly.com/question/11234923

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PLEASE HELP GIVING BRAINLIEST

Answers

Answer:

x=16.9+34.6

x=51.5

.............................

[tex]x - 16.9 = 34.6 \\ x = 34.6 + 16.9 \\ x = 51.5[/tex]

- BRAINLIEST answerer

Could you please help me?!

Answers

Answer:

Step-by-step explanation:

Facts to know :

-diagonals of rhombus are angle bisector so angle A is double 28

∡A = 28*2 = 56°

-opposite angles in a rhombus are congruent so angle A and angle C have the same measure

∡C = 56°

-the sum of angles in a rhombus is 360°

360 - 2*56 = 360-112 = 248

248 /2 = 124

∡B = ∡D = 124°


I need help with this ASAP It will give you 55 points!!!!!!!

Answers

F:(-2/3) = -1/3
-f * 3/2 = -1/3
-3/2f= -1/3
F= 2/9

Write the equation of the line in fully simplified slope-intercept form. y intercept = -2 (GIVE EXPLANATION)

Answers

Answer:

See Below:

Step-by-step explanation:

So, first of all. to find the equation of the line, the equation has to be in [tex]y=mx+b[/tex] form. In this for the following are:

[tex]m[/tex] is the slope of the line[tex]b[/tex]  is the y intercept

Solving

So, first of all, to find the equation of the line, we can get two points from the line, you can pick any points you want, but for this case, I will be using (0,-2) and (-2,0).

To solve for the slope, we can use rise over run to find the equation.

[tex]\frac{y_{2}-y_{1}}{x_{2}-x_{1}}[/tex]

Upon inserting our points into the equation, we get a slope of -1.

[tex]\frac{0-(-2)}{-2-0}=\frac{2}{-2}=-1[/tex]

Creating The Equation

To create the equation in [tex]y=mx+b[/tex] form, we need to know what the intercept and the slope are, for which we solved above. We can now put in the things we found to get our final equation.

[tex]y=-1x-2[/tex]

We know the slope has to be -1 as we solved for that, and because the line is decending downwards, we can interpret the slope as down 1 right 1.

We know that b is -2 because the y intercept is -2 and b is equal to the y intercept. Therefore the b cation is -2.

Cheers!

6x + 13 = 12x - 20 solutions

Answers

Answer:

6x + 13 = 12x - 20

Step-by-step explanation:

6x + 13 = 12x - 20

what is the mean number of cars owned by a family? Give your answer to 1 decimal place.

Answers

Answer:

Step-by-step explanation:

total # of families=15

families that own 0 cars=2

families that own 1 cars=5

families that own 2cars=4

families that own 3 cars=3

families that own 4 cars=1

so 2+5+4+3+1=15

total# of families/ sum of cars = 15/15=1

Please help! This is due in 25 minutes!! Will give brainliest, 5 star rating, 10 points, and a thanks!!!!

Answers

Answer:

333

666

Step-by-step explanation:

333 / 9 = 37

666 / 9 = 74

yeah-ya...... right?

Answer:

333

Step-by-step explanation:

we see that all three digits are the same so heres a list of numbers it could be 222 333 444 555 666 777 and we know that numbers divisible by nine mean all the digits added up have to be divisible by nine and we can see that 333 equals 9 when the digits are added together so this is the answer.

ANSWER CORRECT FOR BRAINLIEST

Answers

Answer:

3 2 /5 ×3

change 3 2 /5 into an improper fraction

then you will get 17 /5

after that you say 17/5 ×3/1

=(17×3)/ (5x1)

=51/5 (51÷5)

=10.2/ 10 1/5

Solution:

[tex]3 \frac{2}{5} \times 3 \\ = \frac{17}{5} \times 3 \\ = \frac{51}{5} \\ = 10 \frac{1}{5} [/tex]

Answer:

[tex]10 \frac{1}{5} [/tex]

Hope it helps.

Do comment if you have any query.

help me with this please!?!?!?!?!

Answers

Answer:

17/4

Step-by-step explanation:

add the fractions

find the nth term of 1,6,11,16

Answers

Answer:

5n-4

Step-by-step explanation:

The rule of the sequence is 5n-4.

If n=1 then 5(1)-4=1 because 5x1=5 and 5-4=1

If n=2 then 5(2)-4=6 because 5x2=10 and 10-4=6

If n=2 then 5(3)-4=11 because 5x3=15 and 15-4=11

If n=2 then 5(4)-4=16 because 5x4=20 and 20-4=16

Julio is buying tickets for a football game from an online retailer. Tickets Inc. charges a fee of 6.75% per ticket and Max Tickets charges a flat fee of 55 per ticket. It
the tickets cost $79.50 each, from which retailer should Julio buy the tickets to pay a lesser ticket fee?

Answers

Answer:

Buy from Tickets Inc.

Step-by-step explanation:

Mr. Smith charged Jill $320 for parts and $150 per hour for labor to repair her bicycle. If he spent 3 hours repairing her bike, how much does Jill owe him? Write an expression and show your work and answer.

Answers

Answer:A repair bill for a car is $648.45. The parts cost $265.95. The labor cost is $85 per hour.

Step-by-step explanation:

had this question

find the sum
(2x+6)+(4x-12)
HELp

Answers

Answer:

6x - 6

Step-by-step explanation:

(2x + 6) + (4x - 12) ← remove parenthesis

= 2x + 6 + 4x - 12 ← collect like terms

= (2x + 4x) + (6 - 12)

= 6x + (- 6)

= 6x - 6

Which line is perpendicular to the line x =
į
?
O A. X = -2y
B. y = - 2x
O
C. X = -2
O
D. y = 2

Answers

Answer:

Option D

Hope this helps!

Who many can fill it ?

Answers

Answer:

6×3×4= 72 unit cubes

................................

I need help pls help me

Answers

Answer:

$1,270

Step-by-step explanation:

let x be the total amount of ice cream sold without tax

x + (x*0.0635)=21270

1.0635x=21270

x=20,000

so the amount he needs to send to state is

21270-20000

1,270

Total cost of icecream without cost be x

[tex]\\ \sf\longmapsto x+0.0635x=21270[/tex]

[tex]\\ \sf\longmapsto 1.0635x=21270[/tex]

[tex]\\ \sf\longmapsto x=21270/1.0635=20000[/tex]

Amount to be paid

[tex]\\ \sf\longmapsto 21270-20000=1270[/tex]

Please help ASAP!
Write the ratio 2/7 to 8 as a fraction in simplest form. The ratio in simplest form is _____.

Answers

[tex]\dfrac{\tfrac 27}8 = \dfrac 2{7 \times 8} = \dfrac 2{56} = \dfrac 1{28} = 1:28[/tex]

What is the area of this tile?

Answers

Answer:

i think its 16 but im not sure

Step-by-step explanation:

6+6+2+2= 16 but im not sure if that how u do it or not

it's been so long since i've done that stuff. 12 in i think

man to be honest there is a girl i really like should i tell her how i feel

Answers

Answer:

I think if you haven't hung out with her a lot, you should start hanging out with her, getting along, until you have built up courage to tell her you have feelings for her.

Yesss but be smooth with it though.

help me with this please

Answers

Answer:

12

Step-by-step explanation:

[tex]1/3(3)(12)[/tex]

The 1/3 and 3 cancel and you are left with

[tex]12[/tex]

Yep, the person above is completely correct!

On Tuesday, I worked $t 1$ hours and earned $3t-3$ dollars per hour. My friend Andrew worked $3t-5$ hours but only earned $t 2$ dollars an hour. At the end of the day, I had earned two dollars more than he had. What is the value of $t$

Answers

If I earned $2 more than Andrew at the end of the day, then the value of t  is [tex]1\frac{2}{3}[/tex]

Number of hours that I used to work = 1 hour

My hourly pay =  $3t - 3

My total pay at the end of the day = Number of hours x hourly pay

My total pay at the end of the day = 1 (3t - 3)

My total pay at the end of the day = $ 3t - 3

Number of hours that Andrew used to work = 3t -5 hour

Andrew's hourly pay =  $2

Andrew's total pay at the end of the day = Number of hours x hourly pay

Andrew's total pay at the end of the day = 2 (3t - 5)

Andrew's total pay at the end of the day = $ 6t - 10

At the end of the day, I earned $2 more than Andrew

My total pay = Andrew's total pay + 2

3t - 3   =  6t - 10  +  2

6t  -  3t  =  -3 +10 - 2

3t  =  5

t  =  5/3

[tex]t = 1\frac{2}{3}[/tex]

If I earned $2 more than Andrew at the end of the day, then the value of t  is [tex]1\frac{2}{3}[/tex]

Learn more here: https://brainly.com/question/25765213

expand and simplify
(x +3)(x+5)

Answers

x • x + x • 5 + 3 • x + 3 • 5
2x + 5x + 3x + 15
10x + 15

Answer:

x² + 8x + 15

Step-by-step explanation:

(x +3)(x+5)

=> x² + 5x + 3x + 15

=> x² + 8x + 15

So, after simplifying, we can conclude that x² + 8x + 15 is our answer. Hoped this helped.

I Jose' Altuve is currently hitting 2 home runs for each 25 times at bat. If he continues at this rate, how many home runs will he hit in a season in which he bats 550 times?​

Answers

Answer:

44 home runs

Step-by-step explanation:

550 ÷ 25

= 22

22 x 2

= 44

The radius of a circle is 15 inches. What is the circumference of the circle? Write your answer using .​

Answers

Answer: C ≈ 94.25 in

Step-by-step explanation:

Find the perimeter of the rectangle

Answers

Answer:

Perimeter: 4x+14

Step-by-step explanation:

The Formula for perimeter is P = 2L + 2W

So apply it:

L = x+7

W = x

[tex]P=2x+2\left(x+7\right)[/tex]

[tex]P=4x+14[/tex]

48,000 is borrowed for 13 years. if the interest on the loan is 56,703.96, find the monthly payment

Answers

Answer:

130542

Step-by-step explanation:

FV=48000(2.7196)

FV=130542

two friends A and b invest some money in a buisness in the ratio 13:12. they make a profit of 542600. How much should b receive as profit if the profit is proportional to the investment

Answers

Answer:

Step-by-step explanation:

Could somebody help n explain pls thx

Answers

Answer:

lines are perpendicular

Step-by-step explanation:

• Parallel lines have equal slopes

• The product of the slopes of perpendicular lines = - 1

The equation of a line in slope- intercept form is

y = mx + c ( m is the slope and c the y- intercept )

Rearrange the given equations into this form and extract the slope

3x - 2y = - 6 ( subtract 3x from both sides )

- 2y = - 3x - 6 ( divide through by - 2 )

y = [tex]\frac{3}{2}[/tex] x + 3 ← in slope- intercept form

with slope m = [tex]\frac{3}{2}[/tex]

----------------------------------

4x + 6y = 2 ( subtract 4x from both sides )

6y = - 4x + 2 ( divide through by 6 )

y = - [tex]\frac{4}{6}[/tex] x + [tex]\frac{2}{6}[/tex] , that is

y = - [tex]\frac{2}{3}[/tex] x + [tex]\frac{1}{3}[/tex] ← in slope- intercept form

with slope m = - [tex]\frac{2}{3}[/tex]

--------------------------------------

[tex]\frac{3}{2}[/tex] ≠ - [tex]\frac{2}{3}[/tex] , then lines are not parallel

[tex]\frac{3}{2}[/tex] × - [tex]\frac{2}{3}[/tex] = - 1

Thus the lines are perpendicular to each other

find the limiting value using L hospital​

Answers

Answer:

  -1

Step-by-step explanation:

The expression evaluates to the indeterminate form -∞/∞, so L'Hopital's rule is appropriately applied. We assume this is the common log.

  d(log(x))/dx = 1/(x·ln(10))

  d(log(cot(x)))/dx = 1/(cot(x)·ln(10)·(-csc²(x)) = -1/(sin(x)·cos(x)·ln(10))

Then the ratio of these derivatives is ...

  lim = -sin(x)cos(x)·ln(10)/(x·ln(10)) = -sin(x)cos(x)/x

__

At x=0, this has the indeterminate form 0/0, so L'Hopital's rule can be applied again.

  d(-sin(x)cos(x))/dx = -cos(2x)

  dx/dx = 1

so the limit is ...

  lim = -cos(2x)/1

  lim = -1 when evaluated at x=0.

_____

I find it useful to use a graphing calculator to give an estimate of the limit of an indeterminate form.

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