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
dentify the property used in this equation: 3 + [7 + (–4)] = (3 + 7) + (– 4) Evaluate the expression above.
Leno4ka [110]

Answer:

associative property with respect to addition and subtraction

3+[7+(-4)]=(3+7)+(-4)

3+[7-4]=10+(-4)

3+3=10-4

6=6

Step-by-step explanation:

i hope it will help you

7 0
3 years ago
What is the equation in point-slope form that represents the line going through (1,3) and (4,6)
Darya [45]
We have the slope m = (6-3)/(4-1) = 3/3 = 1;
Then, y - 3 = 1·( x - 1);
finally, y = x + 2.
3 0
3 years ago
The concentration of particles in a suspension is 50 per mL. A 5 mL volume of the suspension is withdrawn. a. What is the probab
kolezko [41]

Answer:

(a) 0.6579

(b) 0.2961

(c) 0.3108

(d) 240

Step-by-step explanation:

The random variable <em>X</em> can be defined as the number of particles in a suspension.

The concentration of particles in a suspension is 50 per ml.

Then in 5 mL volume of the suspension the number of particles will be,

5 × 50 = 250.

The random variable <em>X</em> thus follows a Poisson distribution with parameter, <em>λ</em> = 250.

The Poisson distribution with parameter λ, can be approximated by the Normal distribution, when λ is large say λ > 10.  

The mean of the approximated distribution of X is:

μ = λ  = 250

The standard deviation of the approximated distribution of X is:

σ = √λ  = √250 = 15.8114

Thus, X\sim N(250, 250)

(a)

Compute the probability that the number of particles withdrawn will be between 235 and 265 as follows:

P(235

                             =P(-0.95

Thus, the value of P (235 < <em>X</em> < 265) = 0.6579.

(b)

Compute the probability that the average number of particles per mL in the withdrawn sample is between 48 and 52 as follows:

P(48

                             =P(-0.28

Thus, the value of P(48.

(c)

A 10 mL sample is withdrawn.

Compute the probability that the average number of particles per mL in the withdrawn sample is between 48 and 52 as follows:

P(48

                             =P(-0.40

Thus, the value of P(48.

(d)

Let the sample size be <em>n</em>.

P(48

                             0.95=P(-z

The value of <em>z</em> for this probability is,

<em>z</em> = 1.96

Compute the value of <em>n</em> as follows:

z=\frac{\bar X-\mu}{\sigma/\sqrt{n}}\\\\1.96=\frac{48-50}{15.8114/\sqrt{n}}\\\\n=[\frac{1.96\times 15.8114}{48-50}]^{2}\\\\n=240.1004\\\\n\approx 241

Thus, the sample selected must be of size 240.

5 0
3 years ago
What value of y satisfies the system of equations:<br><br> y=-6x+2<br><br> y=x^2+11
Nataly [62]

Answer:

The value of y that satisfies the system of equations is 20

Step-by-step explanation:

we have

y=-6x+2

y=x^{2}+11

we know that

The solution of the system of equations is the intersection point both graphs

using a graphing tool

the intersection point is (-3,20)

see the attached figure

therefore

The value of y that satisfies the system of equations is 20

8 0
3 years ago
Describe the relationship between the number of places a decimal point is moved to the left and change in the value of the numbe
Gnoma [55]
Makes the value a negative
8 0
3 years ago
Other questions:
  • A tap takes 3 hours to fill a tank. A discharge tap takes 6 hours to empty the same tank. How long will it take to fill the tank
    13·1 answer
  • Historically, the proportion of people who trade in their old car to a car dealer when purchasing a new car is 48%. Over the pre
    7·1 answer
  • What is w-4&gt;9 written on a number line?
    9·1 answer
  • Can someone help me with this?
    11·2 answers
  • Which of the following is not an example of a perfect square? a √9 b √200 c √4 d √64
    14·1 answer
  • (18)2(3)2(4)3<br> (6)2(2)3
    8·1 answer
  • A trapezoid has an area of 24 square meters. The length of the bases of the trapezoid are 5 meters and 7 meters. What is the hei
    5·1 answer
  • Fill in the blank with the correct response.<br><br> 11 ft = ____in.
    9·2 answers
  • What is a possible solution set to x + 7 ≤ -9 ?
    8·2 answers
  • Please help!
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!