All categories

3 years ago

Miguel deposits $5000 in an account

1 answer:

5 0

Then the amount of money will he have in his account after 10 years will be $7,454.16. Then the correct option is B.

<h3>What is compound interest?</h3>

Compound interest is the interest on a loan or deposit calculated based on the initial principal and the accumulated interest from the previous period.

Miguel deposits $5000 in an account earning 4% interest compounded monthly.

Then the amount of money will he have in his account after 10 years will be

We know the compound interest formula.

$A = P (1 + r)^t$

Where

A = amount

P = principal

r = rate of interest

t = time period (in year)

Then we have

$\rm A = 5000 (1 + 0.04)^{10}\\\\A = 5000 (1.04)^{10}\\\\A = \$ \ 7454.16$

More about the compound interest link is given below.

brainly.com/question/25857212

#SPJ1

You might be interested in

In the Ardmore Hotel, 20 percent of the guests (the historical percentage) pay by American Express credit card. (a) What is the

xxMikexx [17]

Answer:

(a) The expected number of guests until the next one pays by American Express credit card is 4.

(b) The probability that the first guest to use an American Express is within the first 10 to checkout is 0.0215.

Step-by-step explanation:

The random variable X can be defined as the number of guests until the next one pays by American Express credit card

The probability that a guest paying by American Express credit card is, p = 0.20.

The random variable X follows a Geometric distribution since it is defined as the number of trials before the first success.

The probability mass function of X is:

$P(X=x)=(1-p)^{x}p;\ x=0,1,2,3...,\ 0$

(a)

The expected value of a Geometric distribution is:

$E(X)=\frac{1-p}{p}$

Compute the expected number of guests until the next one pays by American Express credit card as follows:

$E(X)=\frac{1-p}{p}$

$=\frac{1-0.20}{0.20}$

$=4$

Thus, the expected number of guests until the next one pays by American Express credit card is 4.

(b)

Compute the probability that the first guest to use an American Express is within the first 10 to checkout as follows:

$P(X=10)=(1-0.20)^{10}\times0.20$

$=0.1073741824\times 0.20\\=0.02147483648\\\approx0.0215$

Thus, the probability that the first guest to use an American Express is within the first 10 to checkout is 0.0215.

3 0

3 years ago

John has $6.10 in quarters and nickels in his pocket. If John has 34 coins in his pocket, how many of the coins are quarters?

Luden [163]

34 = q + n
6.1 = .25q + .05n

-1.7 = -.05q - .05n
6.1 = .25q + .05n

4.4 = .2q
q = 22

22 of the coins are quarters.

7 0

3 years ago

R= 4/3(p-q) solve for p

Naya [18.7K]

Answer = p=12-4 -12=17=18+19

p-q

p=12

3 0

3 years ago

Kristen is 64 inches tall, and she stands 12 feet away from a streetlight. If she casts an 82-inch-long shadow, how tall is the

o-na [289]

Answer:

176.39 inches or

14.70 feet

Step-by-step explanation:

Consider the right triangle made by Kristen, ground and shadow.

This triangle has one leg as 64 inches.

Next consider the right triangle formed by street light, ground upto shadow tip.

The two triangles have common angle of elevation and also another angle as 90 degrees.

Hence the two triangles would be similar

Also if A is the angle made by hypotenuse of both triangles with the ground we have

$tanx=\frac{64}{82}$

This value also equals by bigger triangle as

$tanx=\frac{h}{82+12(12)}=\frac{h}{226}$

From these two we get

h = height of street light = $\frac{226(64)}{82} =176.39$

6 0

3 years ago

Please help 4+(-10)-(-9)

Hunter-Best [27]

Answer:

-15

Step-by-step explanation:

-10+-9=-19+4=-15

5 0

3 years ago

Read 2 more answers