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kondor19780726 [428]
2 years ago
8

An engineer deposits $2,000 per month for four years at a rate of 24% per year, compounded semi-annually. How much will he be ab

le to withdraw 10 years after his last deposit?
Mathematics
1 answer:
Alex17521 [72]2 years ago
5 0

The amount of money he will be able to withdraw after 10 years after his last deposit is $926,400.

<h3>Compound interest</h3>

  • Principal, P = $2,000 × 12 × 4

= $96,000

  • Time, t = 10 years
  • Interest rate, r = 24% = 0.24
  • Number of periods, n = 2

A = P(1 + r/n)^nt

= $96,000( 1 + 0.24/2)^(2×10)

= 96,000 (1 + 0.12)^20

= 96,000(1.12)^20

= 96,000(9.65)

= $926,400

Therefore, the amount of money he will be able to withdraw after 10 years after his last deposit is $926,400

Learn more about compound interest:

brainly.com/question/24924853

#SPJ4

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abrl,belle and cindy have $408 altogeter.belle has $7 more than cindy and $5 more than abel.how much does abel have?
faltersainse [42]
ABC = 408 
C + 7 = B
A + 5 = B 

B - 7 + B - 5 + B = 408
3B - 12 = 408
     + 12 = +12
3B = 420
/3   = /3
B = 120
A = 115
C = 113
The answer is A = 115, Abel has $ 115

4 0
3 years ago
Find the value of n that makes ΔDEF ∼ΔXYZ when DE = 4, EF = 5, XY = 4(n+1), YZ = 7n - 1, and ∠E ≅∠Y. n =
dalvyx [7]

Answer:

3

Step-by-step explanation:

It's given that ΔDEF ∼ΔXYZ . So the corresponding sides of both triangles will be proportional to each other.

=  > \frac{de}{xy}  =    \frac{ef}{yz}  =  \frac{df}{xz}

DE = 4 ; XY = 4(n + 1) ; EF = 5 ; YZ = 7n - 1

Putting all these values gives ,

\frac{4}{4(n + 1)}  =  \frac{5}{7n - 1}

=  >  \frac{1}{n + 1}  =  \frac{5}{7n - 1}

=  > 7n - 1 = 5(n + 1)

=  > 7n - 1 = 5n + 5

=  > 7n - 5n = 5 + 1

=  > 2n = 6

=  > n =  \frac{6}{2}  = 3

3 0
3 years ago
Read 2 more answers
Determine the implied domain of the following function. Express your answer in interval notation.
Mandarinka [93]

Answer:

(-♾, ♾)

Step-by-step explanation:

A quadratic can accept any real x value. So the domain is All Real Numbers. This in interval notation is

(-♾, ♾)

This is read as negative infinity to positive infinity

6 0
2 years ago
The bike store marks up the wholesale (lower price) cost of all of the bikes they sell by 30%.
mario62 [17]

Answer:

$100

Step-by-step explanation:

125 dollar bike will cost you 100 dollars if the sale for 20%.

125 x 0.20 = 25

25-125=100

Hope this helped!

8 0
3 years ago
Terry deposits $200 into a bank account that earns 3% simple interest per year. What is the total amount in the account after 2
MrRa [10]
Well first you have to solve for the 1st year so 200*.03, .03 represents the 3%. Which would equal 6 dollars so after the 1st year he would have 200+6=206.

Now you do the second year so do 206*.03, which would equal 6.18 so 206+6.18=212.18

Answer= 212.18
5 0
3 years ago
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