Oliver invested $970 in an account paying an interest rate of 7 1/2 % compounded continuously. Carson invested $970 in an account paying an interest rate of 7 3/8% compounded annually. To the nearest of a hundredth of a year, how much longer would it take for Carson's money to double than for Oliver's money to double?

Answers

Answer 1

Answer:

0.50 or about half a year longer.

Step-by-step explanation:

We can write an equation to model bot investments.

Oliver invested $970 in an account paying an interest rate of 7.5% compounded continuously.

Recall that continuous compound is given by the equation:

[tex]A = Pe^{rt}[/tex]

Where A is the amount afterwards, P is the principal amount, r is the rate, and t is the time in years.

Since the initial investment is $970 at a rate of 7.5%:

[tex]A = 970e^{0.075t}[/tex]

Carson invested $970 in an account paying an interest rate of 7.375% compounded annually.

Recall that compound interest is given by the equation:

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

Where A is the amount afterwards, P is the principal amount, r is the rate, n is the number of times compounded per year, and t is the time in years.

Since the initial investment is $970 at a rate of 7.375% compounded annually:

[tex]\displaystyle A = 970\left(1+\frac{0.07375}{1}\right)^{(1)t}=970(1.07375)^t[/tex]

When Oliver's money doubles, he will have $1,940 afterwards. Hence:

[tex]1940= 970e^{0.075t}[/tex]

Solve for t:

[tex]\displaystyle 2 = e^{0.075t}[/tex]

Take the natural log of both sides:

[tex]\ln\left (2\right) = \ln\left(e^{0.075t}\right)[/tex]

Simplify:

[tex]\ln(2) = 0.075t\Rightarrow \displaystyle t = \frac{\ln(2)}{0.075}\text{ years}[/tex]

When Carson's money doubles, he will have $1,940 afterwards. Hence:

[tex]\displaystyle 1940=970(1.07375)^t[/tex]

Solve for t:

[tex]2=(1.07375)^t[/tex]

Take the natural log of both sides:

[tex]\ln(2)=\ln\left((1.07375)^t\right)[/tex]

Simplify:

[tex]\ln(2)=t\ln\left((1.07375)\right)[/tex]

Hence:

[tex]\displaystyle t = \frac{\ln(2)}{\ln(1.07375)}[/tex]

Then it will take Carson's money:

[tex]\displaystyle \Delta t = \frac{\ln(2)}{\ln(1.07375)}-\frac{\ln(2)}{0.075}=0.4991\approx 0.50[/tex]

About 0.50 or half a year longer to double than Oliver's money.


Related Questions

Fill in the following statements.
DE ||
2DE =

Answers

Answer:

DE ║ BC

BC = 2(DE)

Step-by-step explanation:

From the picture attached,

AD = DB [Given]

AE = EC [Given]

Therefore, points D and E will be the midpoints of the sides AB and AC.

By midsegment theorem,

Segment joining midpoints of the two sides of a triangle is parallel and measures the half of the third side of the triangle.

DE ║ BC

DE = [tex]\frac{1}{2}(BC)[/tex]

BC = 2(DE)

classify the following as a chemical or physical: hydrogen gas is very explosive

Answers

Answer:

chemical

Step-by-step explanation:

I need help with this math problem

GP ​

Answers

We have

(a + bx) / (a - bx) = (b + cx) / (b - cx)

==>   (a + bx) (b - cx) = (a - bx) (b + cx)

==>   ab + (b ² - ac) x - bcx ² = ab + (ac - b ²) x - bcx ²

==>   (b ² - ac) x = (ac - b ²) x

==>   b ² - ac = ac - b ²

==>   2b ² = 2ac

==>   b ² = ac … … … [1]

Similarly, you would find

(a + bx) / (a - bx) = (c + dx) / (c - dx)

==>   ad = bc … … … [2]

and

(b + cx) / (b - cx) = (c + dx) / (c - dx)

==>   c ² = bd … … … [3]

Now:

c ² = bd   ==>   b = c ² / d

b ² = ac   ==>   c = b ² / a

ad = bc   ==>   d = bc / a

and we find

d / c = (bc / a) / (b ² / a) = c / b

and

c / b = (b ² / a) / (c ² / d) = (b ² d) / (a c ²) = b / a

which is to say, the ratio between d and c is equal to the ratio between c and b, and also equal to the ratio between b and a. Therefore (a, b, c, d) are in a geometric progression.

4.Find the first five terms of the recursive sequence

Answers

Answer:

5, 12, 19, 26, 33

Step-by-step explanation:

Using the recursive rule and a₁ = 5 , then

a₂ = a₁ + 7 = 5 + 7 = 12

a₃ = a₂ + 7 = 12 + 7 = 19

a₄ = a₃ + 7 = 19 + 7 = 26

a₅ = a₄ + 7 = 26 + 7 = 33

The first 5 terms are 5, 12, 19, 26, 33

HEELLLPPPPPP what’s the answer????????????????????????? HEELLLLLLLPPPPPPPPPPPPPP

Answers

Answer:

(-2,-2)

Step-by-step explanation:

x^2 + y^2 = 9

A circle has an equation of the form

(x-h)^2 + (y-k)^2 = r^2

where the center is at ( h,k) and the radius is r

The circle is centered at (0,0) and has a radius 3

The only point entirely within the circle must have points less than 3

(-2,-2)

Which statements are correct? Check all that apply.

Answers

Answer:

e s r

Step-by-step explanation:

Yes, to confirm the answer are options E, S, and R. Hope this helps!

What is the solution to this equation?
log_8 16 + 2log_8x =2

Answers

The awnser is I think x=2

The value of x for the given equation [tex]log_{8}[/tex](16) + 2[tex]log_{8}[/tex](x) = 2 will be 2 so option (B) must be correct.

What is a logarithm?

The exponent indicates the power to which a base number is raised to produce a given number called a logarithm.

In another word, a logarithm is a different way to denote any number.

Given the equation

[tex]log_{8}[/tex](16) + 2[tex]log_{8}[/tex](x) = 2

We know that,

xlogb = log[tex]b^{x}[/tex]

So,

2[tex]log_{8}[/tex](x) = logx²

For the same base

logA + logB = log(AB)

So,

[tex]log_{8}[/tex](16) + [tex]log_{8}[/tex](x)² = 2

[tex]log_{8}[/tex](16x²) = 2

We know that

[tex]log_{a}[/tex](b) = c ⇒ b = [tex]a^{c}[/tex]

so,

[tex]log_{8}[/tex](16x²) = 2 ⇒ 8² = 16x²

x = 2 hence x = 2 will be correct answer.

For more about logarithm

https://brainly.com/question/20785664

#SPJ2

-2/3a+5/6a-1/5a-1/6

Answers

Answer:

[tex]\frac{-1}{30} a - \frac{1}{6}[/tex]

Step-by-step explanation:

How do I solve this math equation: 7=8-p

Answers

Answer:

p = 1

Step-by-step explanation:

7 = 8 - p

7 + p = 8

p = 8-7

p = 1

Answered by Gauthmath

Given a right triangle with an acute angle Θ , if sin Θ = cos Θ , describe what this triangle would look like.

Answers

For sinø = cosø, ø = 45°. Because it is right, it is also a right, isosceles  triangle

Solve the equation sine Ф=0.6792 for 0°≤Ф≤360

Answers

Answer:

42.78⁹, 137.22⁹.

Step-by-step explanation:

sine Ф=0.6792

Angle Ф in the first quadrant = 42.78 degrees.

The sine is also positive in the second quadrant so the second solutio is

180 - 42.78

= 137.33 degres.

Hi I need help with this question please!!! I don’t understand it :/

Answers

Answer:

- 22.5

Step-by-step explanation:

Substitute x = 3 into f(x) and x = 16 into h(x) , then

[tex]\frac{1}{2}[/tex] g(3) - h(16)

= [tex]\frac{1}{2}[/tex] × - 3(3)² - (2[tex]\sqrt{16}[/tex] + 1)

= [tex]\frac{1}{2}[/tex] × - 3(9) - (2(4) + 1)

= [tex]\frac{1}{2}[/tex] × - 27 - (8 + 1)

= - 13.5 - 9

= - 22.5

The above answer is correct. Great job

Can someone help me in this plz

Answers

Answer:

a =2 5

b =50

Step-by-step explanation:

Can someone Answer this

Answers

Answer:

tan x = c/b

cos x = b/a

sin x = c/a

Step-by-step explanation:

an easy way to memorize it would be SOH CAH TOA

SOH = sin, opposite, hypotunese

-- you find the angle and you divide it's opposite and hypotunese when it asks for sin

CAH = cos, adjacent, hypotunese

-- you find the angle's adjacent side and hypotunese, then divide

TOA = tan, opposite, adjacent

-- you find the angle's opposite side and divide it by the adjacent side

Be sure to show your work and solve for e:

17 + e + 11 = 56

Answers

Answer:

E = 28

Step-by-step explanation:

17 + e + 11 = 56

Add 17 + 11

17 + 11 = 28

Subtract 28 from 56

56 - 28 = 28

E = 28

The value of 9.6 x 10000 lies between
a) 800 and 900
b)300 and 400
c) 80 and 90
d) 30 and 40​

Answers

Answer:

option A is write answer

I hope you help

Answer:

none of these

Step-by-step explanation:

it's 96000 so none

Multiply. (Use photo). Enter your answer in simplest radical form.

Answers

Answer:

72√2

Step-by-step explanation:

3√2 × 2√8 × √3 × √6

The above can be simplified as follow:

3√2 × 2√8 × √3 × √6

Recall

a√c × b√d = (a×b)√(c×d)

3√2 × 2√8 × √3 × √6 = (3×2)√(2×8×3×6)

= 6√288

Recall

288 = 144 × 2

6√288 = 6√(144 × 2)

Recall

√(a×b) = √a × √b

6√(144 × 2) = 6 × √144 × √2

= 6 × 12 × √2

= 72√2

Therefore,

3√2 × 2√8 × √3 × √6 = 72√2

What is the slope of the line that contains the points in the table?
х
У
15
-2
9
ON
3
4
-3
O A. 3
O B. -6
O c. 2
O D. -3

Answers

Answer:

https://www.dasd.org › 4444PDF

Web results

Entering Algebra 2: Answer Key

If a = 1/2, then a^2=
(A) -1
(B) 4
(C) 0
(D) 1

Answers

Answer:

1/4

Step-by-step explanation:

a^2

Let a= 1/2

(1/2)^2

(1/4)

[tex]\huge\textsf{Hey there!}[/tex]

[tex]\mathsf{a^2}\\\\\mathsf{= \ (\dfrac{1}{2})^2}\\\\\mathsf{= \ \dfrac{1}{2}\times\dfrac{1}{2}}\\\\\mathsf{= \ \dfrac{1\times1}{2\times2}}\\\\\mathsf{= \ \bf \dfrac{1}{4}}[/tex]

[tex]\boxed{\boxed{\large\textsf{Therefore, the ANSWER is: }\boxed{\mathsf{\bf \dfrac{1}{4}}}}}\huge\checkmark[/tex]

[tex]\huge\textsf{Good luck on your assignment \& enjoy your day!}[/tex]

~[tex]\frak{Amphitrite1040:)}[/tex]

Bagels cost 35p each how much is 6?

Answers

Answer:

1 = 35p

6 = 35p×6

= 240p

Therefore, 6 bagels cost 240 p

1 = 35p

6 = 35 x 6 = 210

210p = £2.10

HHHHELP ME!!!!!! PLZ

Answers

Total gasoline = 10 gallons

Gasoline left after 100 miles = 5 gallons

Gasoline used in 100 miles

= Total gasoline - Gasoline left after 100 miles

= 10 gallons - 5 gallons

= 5 gallons

Gasoline used in 1 mile

= Gasoline used in 100 miles/100

= 5 gallons/100

= 0.05 gallons

Parallelogram PARL is similar to parallelogram WXYZ. If AP = 7, PL = 15, and WZ = 45, find the value of c.

Answers

Answer:

c = 21

Step-by-step explanation:

**I assume that side WX in my diagram (attached as an image below) is the value of C that we're looking for. ALSO, the sizes and lengths of the parallelograms are NOT to scale.**

If two parallelograms are similar, that means the lengths of the corresponding sides have EQUAL ratios.

PL corresponds with WZ. To get from 15 to 45, you would multiply 15 by 3, so the ratio of the legnths of the corresponding sides between these two parallelograms is 1:3.

With that in mind, we can apply this ratio to find WX.

We know that AP has a length of 7, so we will multiply that by 3, getting a value of 21, and 7:21 ratio is the same as 1:3.

c = 21

Hope this helps (●'◡'●)

Find the slope between (-2,-2) and (0,-3)

Answers

Answer:

Step-by-step explanation:

x1 y1 x2 y2

-2 -2 0 3

ΔY 5

ΔX 2

slope= 2 1/2

B= 3

Y =2.5X +3

SEE QUESTION IN IMAGE

Answers

Answer:

Step-by-step explanation:

[tex]Mean=\frac{all.ages.added.together.of.all.kids}{total.number.of.kids}[/tex] Hopefully, that makes sense! To get the numerator of that problem, we take the number of kids and multiply it by the corresponding age and add them all together. To get the denominator, we add the total number of kids together. That will look like this mathematically, setting the mean equal to 14.44, as stated:

[tex]14.44=\frac{13(15)+14(42)+15X+16(10)+17(3)}{15+42+X+10+3}[/tex] and simplify that a bit to

[tex]14.44=\frac{195+588+15X+160+51}{70+X}[/tex] and a bit more to

[tex]14.44=\frac{994+15X}{70+X}[/tex] and cross multiply

14.44(70 + X) = 994 + 15X and

1010.8 + 14.44X = 994 + 15X and

16.8 = .56X so

X = 30

30 kids are 15 years old for the mean age to be 14.44

d.30

Answer:

Solution given:

x. [tex] \:\:\:[/tex] f. [tex] \:\:\:[/tex] fx

13. [tex] \:\:\:[/tex] 15. [tex] \:\:\:[/tex] 195

14.[tex] \:\:\:[/tex] 42 [tex] \:\:\:[/tex] 588

15. [tex] \:\:\:[/tex] x. [tex] \:\:\:[/tex] 15x

16. [tex] \:\:\:[/tex] 10. [tex] \:\:\:[/tex] 160

17. [tex] \:\:\:[/tex] 3. [tex] \:\:\:[/tex] 51

. n=70+x. [tex]\sum[/tex]=994+15x

we have

mean=sum/n

14.44=[tex]\bold{\frac{\sum}{n}}[/tex]

14.44=[tex]\bold{\frac{994+15x}{70+x}}[/tex]

doing crisscrossed multiplication

(70+x)*14.44=994+15x

1010.8+14.44x=994+15x

15x-14.44x=1010.8-994

0.56x=16.8

x=16.8/0.56

x=30

36. Factorize x-12x + 20​

Answers

hope this helps! feel free to clarify

Help, please, I'll give brainliest

Answers

240 seats per row I dont have explaination option so hope its helpful

Solve for x. round to the nearest tenth, if necessary.​

Answers

Answer:

29

Step-by-step explanation:

all in all it is 180 so 61 + m (which is 90 because it is a right angle)=151

then 180-151=29

find the measure of acute angle of a right angle triangle when one angle is 60°

Answers

Answer:

30 degrees.

Step-by-step explanation:

Let the acute angle be x.

Then as the 2 acute angles in a right triangle sum to 90 degrees,

x = 90 - 60

= 30.

Answer:30°Explanation:What we know:We know that all angles in a triangle add up to 180°We know that 1 of the 3 angles is 90°We know that 1 one of the 3 angles is 60°What to find out:What the last angle equals

We used the information we know to give us this equation.

90°+60°+x=180°

We add 90° and 60° to give 150°

150°+x=180°

x must therefore be 30°

Please I need some help!

Answers

Answer:

A

Step-by-step explanation:

A compressed by a factor of 1/4 in the y or vertical direction

ZEFG and ZGFH are a linear pair, mZEFG = 2n + 16, and mZGFH = 3n+24. What are mZEFG and mZGFH?
mZEFG =

Answers

Answer:

m<EFG = 72°

m<GFH = 108°

Step-by-step explanation:

m<EFG = 2n + 16

m<GFH = 3n + 24

Linear pairs are supplementary, therefore,

m<EFG + m<GFH = 180°

Substitute

2n + 16 + 3n + 24 = 180

Add like terms

5n + 40 = 180

5n + 40 - 40 = 180 - 40 (subtraction property of equality)

5n = 140

5n/5 = 140/5 (division property of equality)

n = 28

✔️m<EFG = 2n + 16

Plug in the value of n

m<EFG = 2(28) + 16 = 72°

✔️m<GFH = 3n + 24

Plug in the value of n

m<GFH = 3(28) + 24 = 108°

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