ind the present value that will grow to $4000 if the annual interest rate is 8.5% compounded quarterly for 9 yr.
1 answer:
Answer:
$1876.31
Step-by-step explanation:
The present value can be found using the compound interest formula.
<h3>Present value</h3>The formula for the future value of an investment of P earning annual interest rate r compounded n times per year for t years is ...
FV = P(1 +r/n)^(nt)
Filling in the known values gives ...
4000 = P(1 +0.085/4)^(4·9) = P(1.02125^36)
Then the amount to be invested is ...
P = 4000/1.02125^36 ≈ 1876.31
The present value is $1876.31.
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Answer:
B
Step-by-step explanation:
<u>This is a right triangle as shown by the right angle.</u>
- The side opposite the right angle is the hypotenuse, which is 9.
- The side opposite angle A is 3.
So we have the opposite of A and the hypotenuse.
The trigonometric ratio that relates opposite side to hypotenuse is SINE.
Since, we need angle A, is A, opposite side is 3, and hypotenuse is 9, we substitute:
<em>To solve for the angle, we use our calculator and find the inverse sin of :</em>
<em>Rounding to nearest tenth of a degree:</em>
B is the right choice.