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brilliants [131]
2 years ago
12

How much money would a person have 8 years after they invested $2,000 into an account that has an annual interest rate of 3% tha

t compounds every other month?
Mathematics
1 answer:
madam [21]2 years ago
4 0

The amount of money the person would have in 8 years s $2541.74.

<h3>How much would the person have in 8 years? </h3>

The formula for calculating future value is:

FV = P (1 + r)^nm]

Where:

FV = Future value
  • P = Present value = $2000
  • R = interest rate = 3% / 12 = 0.25%
  • m = number of compounding = 12
  • N = number of years = 8 years

Value of the account in 8 years with monthly compounding = $2000(1.0025)^(12 x 8) = $2541.74

To learn more about future value, please check: brainly.com/question/18760477

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What is the square root of four
xz_007 [3.2K]

Answer:

It is +2 or since (+2)*(+2 ) gives. If you think that it would be (-2) also then you are wrong because root of a positive rational number is always positive number.

Step-by-step explanation:

Let the square root of four be ‘k’.

Then we have

(4)^1/2=k

(Squaring both sides)

4=(k)^2

=>(k)^2–4=0

=>(k)^2-(2)^2=0

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if product of two numbers is 0 then either of one must be zero.

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If k-2=0 then k=2

From here we got two answers but -2 should be omitted because when we square an equation we add “root extra”which means that when we square an equation one root is added.

3 0
3 years ago
the price of a cup of coffee has dropped to $2.20 today. Yesterday's price was $2.35. Find the percentage decrease. Round your a
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Answer:

6.4%

Step-by-step explanation:

percentage decrease= decrease/actually amount×100

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0.15/2.35×100

0.06383×100=6.4%

Percentage decrease=6.4%

6 0
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