Aaron deposits $8,000 into an account that earns 3% interest, compounded Annually. How much money will he have after 4 years

1 answer:

4 0

The equation used for this problem is

F = P(1+i)ⁿ
where
F is the future worth
P is the present worth
i is the effective interest rate
n is the number of years

Substituting the values,

F = $8,000(1 + 0.03)⁴
F = $9,004.07

Thus, after 4 years, Aaron will have $9,004.07.

You might be interested in

Solve the following 1-step equation for x

shtirl [24]

X/0.5 = 24
X/0.5(0.5) = 24(0.5)
X = 12

5 0

3 years ago

6. Write an equation of a line parallel to y = 3x + 9 and goes through the point (-1,5).

lisabon 2012 [21]

Answer: The equation parallel to the line is y=3x+8

Step-by-step explanation: Parallel lines have the same gradients, wr have a gradient for the above line which 3. The standard formula for the linear equation is y=mx+c

We have to calculate c since we have x and y.

y=mx+c

5= 3(-1)+c

c=8

The equation become y=3x+8

4 0

3 years ago

Math inequality y+ 3 < 10

wariber [46]

Answer:

y <7

Step-by-step explanation:

Move all terms not containing y to the right side of the inequality.

4 0

2 years ago

Read 2 more answers

What's 17⁄12 as a mixed number? A. 1 5⁄12 B. 1 12⁄7 C. 1 7⁄12 D. 7 1⁄2

Tju [1.3M]

Answer:

Step-by-step explanation:

17 / 12

(12 + 5) / 12

12/12 + 5/12

1 5/12

8 0

3 years ago

Write an equation of a line parallel to y=1/2x+3 that passes through (2,5)

tamaranim1 [39]

$y=\frac{1}{2}x+3 \parallel y=mx+b$

Two lines are parallel when their slopes are the same.
$m=\frac{1}{2} \\ y=\frac{1}{2}x+b \\ \\ (2,5) \\ x=2 \\ y=5 \\ \Downarrow \\
5=\frac{1}{2} \times 2 + b \\ 5=1+b \\ b=4 \\ \\ \boxed{y=\frac{1}{2}x+4}
$

5 0

3 years ago

Read 2 more answers