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Gnoma [55]
1 year ago
5

What is the balance after 15 years in a savings account that earns 2% interest compounded bimonthly when the initial deposit is

1000?

Mathematics
1 answer:
motikmotik1 year ago
3 0

The amount will be equal to $1348.07. The correct option is A.

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

Compound interest is the interest levied on the interest. The formula for the calculation of compound interest is given as:-

\rm A = P(1+\dfrac{r}{n})^{nt}

Compound Interest Formula:

A = Account Balance

P = Principle/Initial Amount

r = Rate of Interest (decimal)

n = Number of times compounded (per year)

t = Number of Years

Given Information

Account Balance = ?

It is given that the balance after 15 years in a savings account earns 2% interest compounded bi-monthly when the initial deposit is 1000.

This is because we are gaining money, so the multiplier should be greater than 1. We already added 1, which is 100% so you simply add the 0.02 for the extra 2%.

Number of times compounded per year = 6

This is because it is being compounded bi-monthly, or once every 2 months. 12 months divided by 2 months is 6 months, so 6 times a year.

Number of years = 15

Solve by plugging the given values into the formula.

\rm A = P(1+\dfrac{r}{n})^{nt}

\rm A = 1000(1+\dfrac{0.02}{6})^{6 \times 15}

A = 1000 x (1.14)

A = $1348.07.

Therefore, the amount will be equal to $1348.07. The correct option is A.

To know more about Compound interest follow

brainly.com/question/24924853

#SPJ1

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Solve for x 17-x=36 PLSSSS HELPPPPP (A. -53 (B. -19 (C. 19 (D. 53
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N = 32 ÷ (5 - 1)<br> N = 32 ÷ ?<br> N =?
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Step-by-step explanation:

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Line segment TS is tangent to circle O at point N.
garik1379 [7]

Answer:

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Step-by-step explanation:

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_____

<em>Comment on the question and answer</em>

Your description "on the circle between points Q and N" is ambiguous. You used the same description for both points P and R. The interpretation we used is shown in the attachment. If point P is on the long arc NQ, then the measure of arc QPN will be the difference between 148° and 360°, hence 212°. You need to choose the answer that matches the diagram you have.

__

We call angle QNT an "inscribed angle" because it is a degenerate case of an inscribed angle. The usual case has the vertex of the angle separate from the ends of the arc it intercepts. In the case of a tangent meeting a chord, the vertex is coincident with one of the ends of the intercepted arc. The relation between angle measure and arc measure remains the same: 1 : 2.

7 0
3 years ago
PLEASE HELP! I WILL MARK TOU AS BRAINLEIST!
san4es73 [151]

Answer:

a.Z(-2,1)

b.Z(1,1)

c.Z(-3,2)

Step-by-step explanation:

z(-2,3)

Imagine this point on a graph.

Translate it down two units :

the x stays -2, by going down the y decreases 2 so 3-2=1

Z(-2,1)

Translate Right three units : I'm assuming that we use the answer from the first translation

Z(-2,1)

The y doesn't change this time the x increases 3 since we're moving to the right.

Z(1,1)

Translate up 1 and left 4:

Z(1,1)

by moving up one we have Z(1,2) then by moving 4 to the left we get Z(-3,2)

Hope this helps :)

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