1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
GenaCL600 [577]
8 months ago
14

Suppose that $2000 is placed in an account that pays 12% interest compounded each year.Assume that no withdrawals are made from

the account.Follow the instructions below. Do not do any rounding.

Mathematics
1 answer:
Ne4ueva [31]8 months ago
7 0

Given:

Principal amount = $2000

Interest rate = 12%

Find-:

(a) Amount in an account at the end of 1 year

(b)Amount in an account at the end of 2 year

Sol:

Compounded interest rate is:

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

(a)

Amount after 1 year is:

\begin{gathered} t=1 \\  \\ r=\frac{12}{100} \\  \\ r=0.12 \\  \\ n=1 \\  \\ P=2000 \end{gathered}

So the amount is:

\begin{gathered} A=2000(1+\frac{0.12}{1})^{1\times1} \\  \\ A=2000(1.12) \\  \\ A=2240 \end{gathered}

After one year amount in the account is $2240

(b)

Amount after two years is:

\begin{gathered} t=2 \\  \\ n=1 \\  \\ r=0.12 \\  \\ P=2000 \end{gathered}

So amount is:

\begin{gathered} A=P(1+\frac{r}{n})^{nt} \\  \\ A=2000(1+\frac{0.12}{1})^{1\times2} \\  \\ A=2000(1.12)^2 \\  \\ A=2000\times1.2544 \\  \\ A=2508.8 \end{gathered}

After two years amount in the account is $2508.8

You might be interested in
Please help!<br> 40 POINTS for you PLUS A THANKS (both on answer and profile), 5 STAR and BRAINLIEST
stepladder [879]
Sorry for bad hand writing

3 0
2 years ago
5. Kamala worked for 7 1/2 h. She spent 2/3 of the time on her computer. How long was she on her computer?​
Lina20 [59]

Answer:

5 hrs

Step-by-step explanation:

7 1/2 hours equates to 450 minutes total

2/3 of 450 = 300 total minutes

turning the minutes back into hours, 300 / 60 = <u>5</u>

4 0
2 years ago
Read 2 more answers
The strength of a cable is proportional to the square of its diameter. If a 2-cm cable will support 800kg, how much will a 3-cm
xz_007 [3.2K]
Strength [is proportional to] d^2
strength1/(d1)^2 = strength2/(d2)^2
800kg/(2cm)^2 = strength2/(3cm)^2
strength2 = 800 kg * (3 cm)^2/(2 cm)^2
strength2 = 800 kg * 3^2/2^2
strength2 = 800 kg * 9/4
strength2 = 1800 kg
3 0
3 years ago
2x2-3x-5=0 using quadratic formula
saveliy_v [14]
This formula solve by discriminant (D=b^2-4ac)

4 0
3 years ago
Which table does not represent a function?
andrew-mc [135]

the correct option is answer choice D, because there are multiple 2's in the x column with different f(x) values.

4 0
3 years ago
Other questions:
  • If a sphere's surface area is doubled, what is the corresponding change in radius?
    11·2 answers
  • Which of these has the same answer as the problem in the box? [3 + 4 +5]
    8·2 answers
  • Find a pair of factors for each number by using the difference of two squares.
    5·1 answer
  • Steven can jog 14 miles in 2 hours at this rate how many miles 3 dragon 1/4 of an hour
    10·1 answer
  • Polygon ABCD is defined by the points A(-4,2) B(-2, 4), C(1, 3) &amp; D(2,2). Match the coordinates of the points of the transfo
    7·1 answer
  • What is the y-intercept for the equation below?<br> 7x + 2y = -12
    11·1 answer
  • If $480 is shared in the ratio 4:3:5, the difference between the largest and the smallest share is
    9·1 answer
  • in yoga class, all of the students are lined up according to height. Andy notices that the number of students who are taller tha
    10·1 answer
  • 4. Two students created a list of steps for the following construction. Which student has steps in the correct order, and which
    15·1 answer
  • A 7-pound box of grapes costs $30.24. What is the price per ounce?
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!