2 years ago

You are investing $1500 at 5.2% compounded annually. How much money will you have in 12 years?

Mathematics

1 answer:

erica [24]2 years ago

8 0

Answer:

$2756.01 to the nearest cent.

Step-by-step explanation:

A = P(1 + r)^t where A is the amount after t years, P = amount invested, r = rate as a decimal fraction.

So here, we have:

A = 1500(1 + 0.052)^12

= 1500 * 1.837337

= $2756.01

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If the population of a country increases at a rate of 1.5% annually, and its current population is 430,000, how many years will

Alchen [17]

For this case we have an equation of the form:
$y = A * (b) ^ t
$
Where,
A: initial amount
b: growth rate
t: time in years.
Substituting values we have:
$y = 430000 * (1,015) ^ t
$
By the time the population is triple we have:
$3 * 430000 = 430000 * (1,015) ^ t
$
Rewriting we have:
$3 = (1,015) ^ t
$
Clearing t we have:
$t = log1.015 (3)

t = 73.78876233

t = 73 years$
Answer:
It will take for the population to triple about:
t = 73 years

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