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mixas84 [53]
2 years ago
7

Anya's grandparents decide they want to invest at the bank. They have $35,000

Mathematics
1 answer:
Aneli [31]2 years ago
3 0

Anya's parents will have $44,440.71 after 6 years if they invested in a bank.

The interest rate given is an annual rate yet will be compounded quarterly. You therefore need to convert the interest rate to a quarterly rate.

= 4% / 4 quarters

= 1% per quarter

Number of periods:

= Number of years x Number of quarters in year

= 6 x 4

= 24 quarters

The amount they will have in their account is:

<em>= Amount x ( 1 + rate) ^ number of periods </em>

= 35,000 x ( 1 + 1%)²⁴

= $44,440.71

In conclusion, they will have $44,440.71 if they invested their money in a bank for 6 years.

<em>Find out more at brainly.com/question/13861384.</em>

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Answer: She started with $160.

It will take 6 weeks before she has less than half of what she originally invested.

Step-by-step explanation:

If her money is decreasing in value by 11% each week, it means that the rate at which it is decreasing is exponential.

We would apply the formula for exponential decay which is expressed as

A = P(1 - r)^t

Where

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P represents the initial value of the investment.

r represents rate of depreciation.

From the information given,

A = $142.40

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