All categories

2 years ago

6. Interest is compounded semianually. Find the amount in the account after the given time.

Mathematics

1 answer:

patriot [66]2 years ago

5 0

The amount in the account after the given time if compounded semiannually is $1104.2

<h3>Compound interest </h3>

Interest is any amount added on a sum of money over a period of time. The formula for calculating the compound interest is:

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

Given

P = $1000

rate r = 0.05

time =3years

n = 2

Substitute

A = 1000(1 + 0.05/3)^3(2)
A= 1000(1.1042)
A = $1104.2

Hence the amount in the account after the given time if compounded semianually is $1104.2

Learn more on compound interest here: brainly.com/question/24924853

#SPJ1

You might be interested in

Age Problem. Please help. I suck at these.

eimsori [14]

Let Cynthia's age be C, then Abigail's age A

since Abigail is 8 years older, her age A = C+8.

20 years ago Cynthia's she was C-20 and Abigail was A-20=3(C-20)

A-20=3C-60
A=3C-40
but we just said A=C+8
so 3C-40=C+8
2C=48
C=24
A=24+8=32

Cynthia's age is 24 and Abigail's age is 32

7 0

3 years ago

What is the answer to (×^2+x-12)/(2x-6)

Ymorist [56]

Simply the bottom to 2(x-3)

Then the top factors down into (x-3)(x+4)

The (x-3) term cancels out

You are left with ANSWER: (x+4)/2

thank you hope this helps

8 0

3 years ago

It takes 3/4 tsp. of vanilla to make a batch of cookies. How many tsp. would I needed for 4 batches of cookies?

IRISSAK [1]

Answer:

3/1 tsp. or 3 tsp.

Step-by-step explanation:

3/4 times 4

7 0

3 years ago

Christy draws 3 cards from the deck one at a time without replacement. What is the probability of selecting the cards in the ord

Inga [223]

Start with a deck of 52 cards. Draw 1 card. Probability of drawing a diamond first:

$\dfrac{\binom{13}1}{\binom{52}1}$

Now draw another single card from the deck, which now contains 51 cards. Probability of drawing a spade:

$\dfrac{\binom{13}1}{\binom{51}1}$

Draw 1 last card. The deck has 50 cards left, and 12 of these are diamonds. Probability of drawing a diamond:

$\dfrac{\binom{12}1}{\binom{50}1}$

So the probability of drawing a diamond, then a spade, then another diamond is

$\dfrac{\binom{13}1}{\binom{52}1}\cdot\dfrac{\binom{13}1}{\binom{51}1}\cdot\dfrac{\binom{12}1}{\binom{50}1}=\dfrac{13}{850}$

5 0

3 years ago

The perimeter is more<br> than 15 feet

raketka [301]

X=10 is the answer !!

6 0

3 years ago