The means and mean absolute deviations of Sidney’s and Phil’s grades are shown in the table below which expression represents th
1 answer:
You might be interested in
$1224.78 will be in the account 60 years later
Yes, his savings would have tripled in that time
Step-by-step explanation:
The formula for compound interest, including principal sum is
where:
- A is the future value of the investment/loan, including interest
- P is the principal investment amount (the initial deposit or loan amount)
- r is the annual interest rate (decimal)
- n is the number of times that interest is compounded per unit t
- t is the time the money is invested or borrowed for
At age 20 a person deposits $370 in a savings account paying 2% interest compounded quarterly.
We need to find how much money will be in the account 60 years later, when he is 80 years old and would his savings have tripled in that time
∵ The deposit = $370
∴ P = 370
∵ The account paying 2% interest
∴ r = 2% = 2 ÷ 100 = 0.02
∵ The interest is compounded quarterly
∴ n = 4
∵ The money will be in the account 60 years later
∴ t = 60
By using the rule above
∴
∴
∴
∴ A = 1224.78
$1224.78 will be in the account 60 years later
∵ A = 1224.78
∵ P = 370
∵ ≅ 3
- That means A ≅ P × 3
∴ A approximately is 3 times P
Yes, his savings would have tripled in that time
Learn more:
You can learn more about compound interest in brainly.com/question/4361464
#LearnwithBrainly
The sum of the first 40 terms of the geometric sequence is:
22,114,662.64
<h3>What is a geometric sequence?</h3>A geometric sequence is a sequence in which the result of the division of consecutive terms is always the same, called common ratio q.
The nth term of a geometric sequence is given by:
In which is the first term.
The sum of the <u>first n terms</u> of a sequence is:
For this problem, the parameters are:
a1 = 1, q = 1.5, n = 40.
Hence the sum is:
More can be learned about geometric sequences at brainly.com/question/11847927
#SPJ1