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katrin2010 [14]
2 years ago
9

Amanda deposited 4000 into an account with 3.7% interest, compounded quarterly. Assuming that no withdrawals are made, how much

will she have in the account after 8 years?
Do not round any intermediate computations, and round your answer to the nearest cent.

Mathematics
1 answer:
kondor19780726 [428]2 years ago
5 0

Interest on interest, or compound interest, is the adding of interest to the principal sum of a loan or deposit. The amount that will be in Amanda's account after a period of 8 years is $5,370.57.

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

Interest on interest, or compound interest, is the adding of interest to the principal sum of a loan or deposit. It's the outcome of reinvesting interest rather than paying it out so that interest is received on the principal plus previously collected interest in the next quarter.,

The formula for compound interest is written as,

A = P(1+\dfrac{r}{n})^{n \times t}

A is the final amount

P is the principal amount

r is the rate of interest

n is the number of times the money is compounded in a year

t is the number of years

Given the following details about the account that Amanda owns,

The Principal amount, P is $4000; the rate of interest (r) is 3.7%; the amount is compounded quarterly, therefore, n=4. Also, the amount is invested for a period of 8 years. Thus, the amount in the account after 8 years will be,

A = P(1+\dfrac{r}{n})^{n \times t}\\\\A= \$4,000  \times (1+\dfrac{0.037}{4})^{4 \times 8}\\\\A = \$5,370.57

Hence, the amount that will be in Amanda's account after a period of 8 years is $5,370.57.

Learn more about Compound Interest:

brainly.com/question/25857212

#SPJ1

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PLEASE HELP! I’m struggling with each part any help will be amazing
Vlad [161]

Answer:

<u>slope:</u> -5/2

<u>y-intercept</u>: (0, 2)

<u>Linear function</u>: y = -5/2x + 2

Step-by-step explanation:

Given points (-2, 7) and (2, -3):

Use these points to solve for the slope of the line using the formula:

m = (y2 - y1)/(x2 - x1)

Let  (x1, y1) =  (-2, 7)

      (x2, y2) =  (2, -3)

Substitute these values into the equation:

m = (y2 - y1)/(x2 - x1)

m = (-3 - 7) / [2 - (-2)]

m = -10/ (2 + 2)

m = -10/4 = -5/2

Therefore, the  slope of the line in reduced form is m = -5/2.

The y-intercept is the <u>y-coordinate</u> of the point (0, <em>b</em>) where the graph of the linear equation crosses the y-axis of the Cartesian grid. The y-intercept is also the value of y when x = 0.

To solve for the y-intercept, use one of the given points (2, -3) and the slope (m = -5/2), and substitute their values into the slope-intercept form:

y = mx + b

-3 = -5/2(2) + b

-3 = -5 + b

Add 5 to both sides to solve for the y-intercept, b:

-3 + 5 = -5 + 5 + b

2 = b

Given the value of b = 2, it means that the y-intercept is (0, 2).

Therefore, given the slope of -5/2, and the y-intercept, b = 2:

The linear equation in slope-intercept form is: y = -5/2x + 2

Please mark my answers as the Brainliest, if you find this helpful :)

5 0
2 years ago
What is 3 = 5x - 12?​
zepelin [54]

Answer:

x = 3

Step-by-step explanation:

3=5x-12

Rearrange the Equation.

5x - 12 = 3

Add 12 to both sides.

5x - 12 + 12 = 3 + 12

Simplify

5x = 15

Divide both sides by 5

5x/5 = 15/5

x = 3

5 0
4 years ago
The base change property can help in what type of scenarios? HELP ME!!!!!
Mekhanik [1.2K]
<h3>Base Change Property</h3><h3 />

The Base Change Property is very helpful in scenarios related to simplifying equations where the logarithmic terms have a varying base.

So to solve an equation, which possesses logarithmic functions, all logarithmic terms must have a similar base.

<h3>What is  Base Change Property?</h3><h3 />

This refers to the base formula which is used to write a logarithm of a number with a base that is fixed as the ratio of two logarithms both having the same base but different from the base of the initial or original logarithm.

Change of Base Formula is given as:

log_{b}  a = \frac{Log_{c} a }{Log_{c} b}

See the link below for more about Base Change Property:

brainly.com/question/15318682

6 0
3 years ago
Tyra makes $21.40 per hour at her job for the first 40 hours and $32.10 for anything over 40 hours. if tyra typically works 45 h
Debora [2.8K]
She works for 40 hours, and then 5 hours.
So, for these first 40 hours, Tyra earns $21.40 per hour. We can find how much she earns in 40 hours:

21.40 x 40 = 856.
So, in the first 40 hours, she makes $856.

Now, for any number of hours Tayra works more that 40 hours, she will earn $32.10 each hour.

She works 5 hours over 40 hours, since it is 45 hours in total.
Hence, Tayra will earn $32.10 every hour for the 5 hours:

5 x 32.10 = 160.5.
Therefore, she will earn $160.50 for the 5 hours.

Now we have both of the earning amounts that make up how much she makes in the 45 hours. We can add them together

40 hours + 5 hours = 45 hours.
Substitute the amounts in the hours.

856 + 160.5 = 1016.5.

Thus, the answer is that Tyra will warn $1,016.50 in the total 45 hours.
Ergo, the correct answer is C.

Hope this helps, let me know if you need anything else! :)
7 0
3 years ago
Read 2 more answers
Triangle DEF is congruent to triangle GHI. Side DE measures 52. Side GH measures 10x-13. Side HI measures 12x-16 find the value
Lapatulllka [165]
Check the picture below.

3 0
3 years ago
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