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
OLEGan [10]
3 years ago
15

You invest $6500 into a mutual fund that is expected to earn 6% per year. How long will it take the fund to be worth $13,000?

Mathematics
2 answers:
tester [92]3 years ago
8 0
This is a compound interest problem so you cannot use the simple interest formula. Effectively the total amount is being compounded each year by 6%. There is a formula for compound interest but in this simple example you can work this out recursively.

year 1 = 6500
year2 = 6500*1.06 = 6890
year3 = 6890*1.06 = 7303
year4 = 7303*1.06 = 7741..
etc......
year12 = 11604*1.06 = 12338 

wariber [46]3 years ago
8 0
6% of 6,500 is 390. It will take over 16 years to reach 13,000. 390 * 16.795 = 6,500.05 
So just under 17 years. 
You might be interested in
PLEASE HELP!!!!!!
Reika [66]

Answer:

x=6

Step-by-step explanation:

5x^2-136=44

add 136 to both sides

5x^2=180

divide both sides by 5

x^2= 36

take square root of both sides

x=6

5 0
3 years ago
Read 2 more answers
2-(-2)= asaapaappaappap pleaseee help
IRINA_888 [86]

Answer:

Four is the final answer (4)

Step-by-step explanation: Have a brilliant day of learning!

7 0
3 years ago
Which fraction has a terminating decWhich is the decimal expansion of StartFraction 7 Over 22 EndFraction? ModifyingAbove 0.318
12345 [234]

Answer:

17?15

Step-by-step explanation:

7 0
3 years ago
Read 2 more answers
Factor out 3^2 ^3−18^2 ^4
34kurt
The factor of three is six factor of two is to 3 is three factor of two is 22 is four and poster of four is 22 Answer
3 0
3 years ago
Help Me Find The X Please
Papessa [141]

Answer:

x = 16

y = 16 sqrt(3)

Step-by-step explanation:

Since this is a right triangle, we can use trig functions

sin theta = opp/hyp

sin 60 = y/ 32

Multiply each side by 32

32 sin 60 = y

32 ( sqrt(3) /2) = y

16 sqrt(2)

cos theta = adj/ hyp

cos 60 = x /32

32 cos 60 = x

32 (1/2) =x

16 =x

4 0
3 years ago
Read 2 more answers
Other questions:
  • Waft is the value of the numerical expression <br> 4+(8*2)-3+5
    8·1 answer
  • In each class what fraction of the cans were orange juice?
    13·1 answer
  • flower bed is in the shape of a triangle with one side twice the length of the shortest​ side, and the third side is 15 feet mor
    13·1 answer
  • At a store, customers are randomly selected to participate in a survey. On Friday there were 500 customers at the store. Of thos
    14·1 answer
  • How many 1/8 cups are in 4/5 cups
    8·1 answer
  • Which number does not belong ,60,54,48,40,36.
    15·2 answers
  • Pls help to get 100points
    10·2 answers
  • HELP ASAP Four times the quotient of 3 and 4.
    8·1 answer
  • Two siblings ' ages have a sum of 64 years . The older sibling was born 6 years before their young sibling . Write a system of 2
    15·1 answer
  • 2. A set of data consists of the number of years that applicants for foreign service
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!