Suppose that $7000 is placed in a savings account at an annual rate of 5.6%, compounded semi-annually. Assuming that no withdrawals are made, how long will it take for the account to grow to $8036?

Answers

Answer 1

Answer:

2.5 years

Step-by-step explanation:

Amount= $8036

Principal= $7000

Rate =5.6%

t= ?

n= 2

A= P(1 + r/n)^nt

8036= 7000(1 + 0.028)^2t

1.148= (1 + 0.028)^2t

log(1.148) = log (1 + 0.028)^2t

0.05994= 2t × 0.01199

t= 2.5 years

Answer 2

It will take t = 2.5 years for the account to grow to $8036.

Given that,

Total saving amount = $7000

Annual rate = 5.6% = 0.056

We have to determine,

Assuming that no withdrawals are made, how long will it take for the account to grow to $8036.

According to the question,

Amount = $8036

Principal = $7000

Rate = 0.056

n = 2

To find the value of time t calculation done in single unit,

[tex]A = P (1+ \frac{r}{n} )^{nt} \\\\8036 = 7000 (1+\frac{0.056}{2})^{2t} \\\\\frac{8036}{7000} = (1+0.028})^{2t} \\\\1.148 = (1+0.028)^{2t} \\\\[/tex]

Taking log on both sides,

[tex]log(1.148) = log(1+0.028)^{2} \\\\0.0599 = 2t\times0.0119\\\\\frac{0.599}{0.022} = t\\\\t = 2.5 years[/tex]

Hence, It will take t = 2.5 years for the account to grow to $8036.

To know more about Division click the link given below.

https://brainly.com/question/20648334


Related Questions

What is the slope of the graph of
4x + 3y = 15?

Answers

Answer:

-4/3

Step-by-step explanation:

y=mx+b

3y=-4x+15

y= -4/3 x +5

m is slope b is y intercept

BRANDI WANTS TO CALCULATE THE AVERAGE SPEED
OF A CAR THAT TRAVELED 275 MILES IN THREE
HOURS. WHICH FORMULA BELOW IS CORRECT?
A. S = 3 x 275
B. S = 3/275
C. S = 275/3
D. S = 3-275
MISTER SCIENCE

Answers

Answer:

C. S = 275/3

Step-by-step explanation:

The formula for speed is S = d/t

The d is = 275

The t is = 3

So S = 275/3

Hope this helps ya!!

Nineteen less than four times a number is greater than forty-seven.
Please i will give away all my points to the person that answers this in number form thanks

Answers

Answer: pretty sure it's the number you multiply by 4 is 17

Step-by-step explanation:

when you multiply 4 and 16 you'll get 64 then you subtract 19 and get 45 which is less than 47 so by reasoning if you were to multiply 4 and 17 you'll get 68 then you subtract 19 from 68 and you should get 49 ( you didn't include how much greater than 47 the number should be but the safest bet would be to use 17)

Goodd Luck!
llllllllllaa

Answers

the positive integers are: +2, +11, +8, 28, and 13
the negative integers are: -7, -9, -11, and -3
the 0 should go in the circle between the two charts

Answer:

Step-by-step explanation:

Positive integers = 2 5 8 11 13 28

Negative integers = - 3 - 7 - 9 - 11

The integer that's troubling her the most is 0 because zero is defined as neither positive nor negative

this is for fun type as many Christmas songs as you can below my fav will get brainiest you will get 10 points as well.

Answers

Answer:

"as many Christmas songs as you can below my fav will get brainliest you will get 10 points as well."

Step-by-step explanation:

I typed it.

Answer: um all I want for Christmas and jingle bells.

Step-by-step explanation: make me brainest

Which is smaller, one-ninth of 54 or one-fourth of 36?

Answers

Answer:

one-ninth of 54

Step-by-step explanation

54*1/9=6

36*1/4=9

Answer:

1/9 of 54  is smaller than 1/4 of 36

Step-by-step explanation:

1/9 of 54 is 54/9 and that is 6

1/4 of 36 is 36/4 and that is 9.

Please mark brainliest

2x + 6y - 3z + 5 - 11(4x - 8y) + 6z - 1

Answers

Answer:

-42x+94y+3z-4

Step-by-step explanation:

2x+6y-3z+5-44x+88y+6z-1

The simplified answer is -42x+94y+3z+4. Hope this helps! :)

please help me with this please ​

Answers

First one is A
Second one is C
Third one is B
Trust me

Find the measure of angle A.​

Answers

Answer:

60 degrees sorry if its wrong

Step-by-step explanation:

A market research company wishes to know how many energy drinks teenagers drink each week. They want to construct a 80% confidence interval with an error of no more than 0.08. A consultant has informed them that a previous study found the mean to be 7.3 energy drinks per week and found the standard deviation to be 0.7. What is the minimum sample size required to create the specified confidence interval

Answers

Answer: 126 samples

Step-by-step explanation:

Given that :

Standard deviation (σ) = 0.7

Mean (m) = 7.3

Error (E) = 0.08

α = 80%

The sample size n can be obtained using the relation :

n = [(Zcrit * standard deviation) / Error]^2

The Zcritical at 80% = 1.282

Hence,

n = ((1.282 * 0.7) / 0.08)^2

n = (0.8974 / 0.08)^2

n = 11.2175^2

n = 125.83230625

n = 126

How do I solve this?

Answers

Answer:

The answer is 7.5

Step-by-step explanation:

3x+18=9x−27

3x+18−9x=9x−27−9x

−6x+18=−27

−6x+18−18=−27−18

−6x=−45

−6x /−6 = −45 /−6

x =  15 /2  which is equal to 7.5 as a decimal.  

Will mark the brainliest

Answers

The answer is c because it’s the opposite of the regular picture

in general the value measured by the vertical axis is called the _____ variable​

Answers

Answer:

Dependent

Step-by-step explanation:

in general the value measured by the vertical axis is called the DEPENDENT variable.

I think the answer is dependent

31.8 dived 0.58 answer

Answers

Answer:

54.8275862069

Step-by-step explanation:

If you want rounded than 54

in 2017, the price of a Forever stamp from the United States Postal Service was $0.49. How many Forever stamps could be purchased for $30.38?

Answers

62 stamps
explanation: 30.38/.49=62

( Mathematical sentences can describe real-world problems. Note the following inequalities and real-world problems. Write either the inequality or real-world problem that corresponds to the given information. Do not simplify any inequalities.
(a) Real-World Problem: Toy cars cost c dollars. Stan had $3. He purchased 3 toy cars with his money. Frank had $6. He purchased 8 toy cars with his money. After their purchases, Stan had more money than Frank

Inequality:

(b) Inequality: 3x + 2 < 2x + 10

Real-World Problem: ​

Answers

Answer:

Mathematical sentences can describe real-world problems. Note the following inequalities and real-world problems. Write either the inequality or real-world problem that corresponds to the given information. Do not simplify any inequalities.

(a) Real-World Problem: Toy cars cost c dollars. Stan had $3. He purchased 3 toy cars with his money. Frank had $6. He purchased 8 toy cars with his money. After their purchases, Stan had more money than Frank

Inequality:

(b) Inequality: 3x + 2 < 2x + 10

Which statement correctly compares -9 and 2?

Answers

Answer:

-9<2 is a correct comparison

Write an equation of the line passing through point P(3,8) that is parallel to the line y
= 1/5 (x+4)

Answers

Answer:

y=1/5(x+37)

Step-by-step explanation:

y=1/5x+4/5

Plug in the (3,8)

8=1/5(3)+b

8=3/5+b

7 2/5=b

y=1/5(x+37)

The equation of the line is y = 1/5(x + 37)

Since our new line is parallel to the line y = 1/5(x + 4), and 1/5 is the gradient of the line y = 1/5(x + 4), the gradient of the new line is 1/5.

Using the equation of a line in slope-point form,  [tex]\frac{y - y_{1} }{x - x_{1} } = m[/tex] where (x₁, y₁) = (3, 8) and m = 1/5

Substituting the values of the variables into the equation, we have

[tex]\frac{y - y_{1} }{x - x_{1} } = m[/tex]

[tex]\frac{y - 8 }{x - 3 } = \frac{1}{5}[/tex]

Cross-multiplying. we have

5(y - 8) = x - 3

Expanding the bracket, we have

5y - 40 = x - 3

5y = x - 3 + 40

5y = x + 37

y = 1/5(x + 37)

So, the equation of the line is y = 1/5(x + 37)

Learn more about equation of a line here:

https://brainly.com/question/15587122

Samira used the calculator to find 254.3 × 2.5. Which statement best describes her work? Samira is correct. Samira is incorrect. The calculator should not give an answer that includes a decimal point. Samira is incorrect. The correct answer should only be about twice as much as 254.3, and the number on the screen is much larger. Samira is incorrect. The answer on the screen is not large enough to be the correct answer.

Answers

Answer:

A samira is correct

Step-by-step explanation:

Because she did her own expression right, now she has to solve

Answer:

the answer is c

Step-by-step explanation:

I used a caculator

What is the predicted value of fuel efficiency (in miles per gallon) for a car with a 2.5 cubic liters engine? Round your answer to two decimals, if needed.

Answers

Answer:

25.92

Step-by-step explanation:

Fuel efficiency is the measure or effort that is required to convert the chemical energy in the fuel to the kinetic energy which the cars needs to move. It is meant by how good or effectively the fuel is utilized by the vehicle. It is the ability of the engine to extract more energy from the fuel.

In the context, the size of the engine is 2.5 cubic liters. Then the predicted value of the fuel efficiency will be 25.92 miles per gallon.

30 is 2/3 of what number

Answers

Answer:45

Step-by-step explanation:

Key Word:of

30*2/3 = 45

Answer:

Step-by-step explanation:

let the number be x.

then,

2/3 of x = 30

=> 2/3x = 30

=> x = 30 × 3/2

=> x = 45

so, the required number is 45 .

hope it helps...!!!

20 Points!!! Lisa writes 15 pages of a research paper. If she has written 75% of her goal, what is the total number of pages that she wants to write?

Answers

Answer:

I believe that her goal is 20 pages because 75% of 20 is 15.

Step-by-step explanation:

I need help again please​

Answers

Answer:

I think it's the third one.

Answer:

C

Step-by-step explanation:

Betsy has to sell carnival tickets worth at least $60. The price of a child ticket is $5, and the price of an adult ticket is $8. Let x be the number of child tickets sold and y be the number of adult tickets sold. which of the following graphs best models this situation.

A) 5x+8y
[tex] \geqslant [/tex]
60
B) 5x+8y
[tex] \leqslant [/tex]
60
C) 5x+8y
[tex] < [/tex]
60
D) 5x+8y
[tex] > [/tex]
60​

Answers

Answer:

A) 5x + 8y [tex]\geq[/tex] 60

Step-by-step explanation:

"At least" translates to the inequality symbol [tex]\geq[/tex] or "greater than or equal to."

Please answer quick.

Answers

Answer:

e

Step-by-step explanation:

Jon's last paycheck was $342.58. If he worked
35.5 hours, how much does he get paid per hour?

I need the answer to this question how much does he get paid per hour?

Answers

$9.65 per hour jendndnej es

the shadow of a 100 m long vertical pole is of 20 m then what will be the angle of inclination round the answer to the nearest tenth of a degree​

Answers

Answer:54.23 m

Step-by-step explanation:I’m not sure this is even close to being right but I tried

The first 5 terms of a sequence are shown below:
3, -2, -7, -12, -17
Which expression can be used to find the nth term?

Answers

Answer:

c: -7

Step-by-step explanation:

1 1/3 divided by 3/4

Answers

Answer:

1 7/9

Step-by-step explanation:

Could i have branliest please and a heart

Step-by-step explanation:

11/ 36

hope it helps!

.....

write an equation of the line that passes through 4,-2 and is parallel to y=-4x+1

Answers

Answer:

y=-4x+14

Step-by-step explanation:

A parallel line must always have the same slope, so it must be -4x, and on a graph y=-4x+14 passes through the point (4,-2)

Other Questions
What did Wegener gather about Pangea from his study of ancient climatology?Group of answer choicesA Dinosaurs during that time enjoyed warm climatesB Part of Pangea was covered in a massive ice capC The Sun was closer to Earth during the time of PangeaD Pangea was made of igneous rocks exclusively Help asap easy BRAINLlSTquestion In pic Which of the following is true about most European practices of slavery in the Americas? What the answer to question 20 now please write the answer and question HELP but plzz dont waste the answers its a testReed owns two used car lots, Quick Cars and Reliable Rides. He recently gathered data regarding the number of cars, trucks, and SUVs that he has at each lot. The results are shown in the two-way frequency table below.Cars Trucks SUVs TotalQuick Cars 48 22 36 106Reliable Rides 34 28 32 94Total 82 50 68 200Approximately what percentage of Reed's trucks are at Reliable Rides?A 78%B 29%C 14%D 56% A restaurant owner plans to use x tables seating 4, y tables seating 6, and z tables seating 8, for a total of 20 tables. When fully occupied, the tables seat 108 customers. If only half of the x tables, half of the y tables, and one-fourth of the z tables are used, each fully occupied, then 46 customers will be seated. Find x, y, and z The total cost to buy pizzas from Mrs. miss holiday party can be found using the function C(x)=10+3.50x, where X is the number of pizza bought. She wants to order at least 5 pizzas but no more than 9 pizzas for class. Is this a continuous or discreet relationship?What is the domain and what is the range of the situation? Please answer correctly. I will give you the brainliest and 15 points!!! plzzzzzzzzzzzzz need ASAPWhich of these is not a possible r-value? looking at the graph what does the y intercept tell you about the puppies in the litter? help me If writing is easy, you are doing it wrong. What does it mean? You do a search on your mobile phone for "clothing stores near me". Your top result is a search ad for a Banana Republic (clothing store) that is two blocks away. Your friend (standing next to you) does the same search but does not receive that ad. You are a frequent Banana Republic shopper and your friend is not. This ad targeting is an example of location-based targeting combined with:_____.A. temporal targetingB. behavioral targetingC. weather-based targetingD. targeting based on social contextE. each is correct Maurice and his father are building a dog house. They are using long pieces of wood and cutting them into smaller pieces. They have a piece of wood that is 3.6 feet long and are cutting it into pieces that are each 0.75 feet. How many smaller pieces will they be able to make? How do you pronounce the Brazilian last name Araujo i need help i dont get this at all . pls help asp!! What is the characteristic of the Mastaba Tomb of Pernab? Jada cut 4 pieces of ribbon that were equal in length. She used a total of 5 feet of ribbon. How long, in feet, was each piece of ribbon she cut? please help me asap the door was open ( negative) help!!!!!!!!!!!!!!!!!!!!!!!! NEED HELP ASAPInstructions: Find the length of the missing sides. Round your answers to thenearest tenth. (Hint: Always make sure to label your triangle first with yourreference angle)