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12345 [234]
3 years ago
10

How much would $150 invested at 8% interest compounded monthly be worth after 13 years? Round your answer to the nearest cent. h

ere's the equation: A(t)=P(1+r/n)^nt
Mathematics
1 answer:
dedylja [7]3 years ago
7 0
Using that equation, our P = 150, r = .08, t = 13, and n = 12 (because there are 12 months in a year).  Filling in accordingly, we have  A(t)=150(1+ \frac{.08}{12})^{(12)(13)}.  Simplifying a bit we have  A(t)=150(1+.00666666)^{156}.  Doing the addition inside the parenthesis and then raising that number to the 156th power, we have A(t)=150(2.819469238).  Multiply those and get A(t) = $422.92
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You deposit $3000 in a savings account that earns 2.9% annual interest compounded monthly. You also save $80 per month in a safe
Jlenok [28]

Answer:

C(t)=3000(1.002417)^12t+960t

if T=1 year then the saving will be : 4048.17

Step-by-step explanation:

3000 deposit amount, 2.9 compound monthly interest .  save 80 dollars  per month at home .

A=p(1+r)^t

A=3000(1+0.029/12)^12t

A=3000(1.002417)^12t dollars

for the amount saved at home=80*12t=960t dollars

C(t)=3000(1.002417)^12t+960t

if T=1 year then the saving will be :

C(t)=3000(1.002417)^12t+960t

     =3088.17+960= 4048.17 dollars

7 0
3 years ago
(05.01)A scale drawing of a living room is shown below. The scale is 1 : 40.
matrenka [14]

Answer:

A=266\frac{2}{3}\ ft^2

Step-by-step explanation:

we know that

The scale is \frac{1}{40}

That means

1 unit in the drawing represent 40 units in the actual

or

1 inch in the drawing represent 40 inches in the actual

step 1

Find the actual dimensions of the living room

Multiply the dimensions of the living room in the drawing by 40

Length:\ 6(40)=240\ in

Width:\ 4(40)=160\ in

step 2

Convert inches to feet

Remember that

1\ ft=12\ in

To convert inches to feet , divide by 12

so

Length:\ 240\ in=240/12=20\ ft

Width:\ 160\ in=160/12=\frac{40}{3}\ ft

step 3

Find the area in square feet

Multiply the length by the width

A=(20)(\frac{40}{3})=\frac{800}{3}\ ft^2

Convert to mixed number

A=\frac{800}{3}\ ft^2=\frac{798}{3}+\frac{2}{3}=266\frac{2}{3}\ ft^2

4 0
3 years ago
Read 2 more answers
A total of 26 bills are in a cash box. Some of the bills are one-dollar bills, and the rest are five-dollar bills. The total amo
kobusy [5.1K]

Answer:

Number of 1 $ bill = 20

Number of 5 $ bill = 6

Explanation:

 Let p represent number of one dollar bolls and q represent number of five bills.

A total of 26 bills are in a cash box.

      p + q = 26    ------------------------- Equation 1

The total amount of cash in the box is $50

      p + 5q = 50    ------------------------- Equation 2

Equation 2 - Equation 1,

        p + 5q - p -q = 50 - 26

        4q = 24

          q = 6

Substituting in equation 1.

         p + 6 = 26

         p = 20

Number of 1 $ bill = 20

Number of 5 $ bill = 6

3 0
3 years ago
One tool used in genetics is called a pedigree chart,are there any advantages to using this tool?The population of a city is inc
Tanzania [10]

Answer:

A = 236,000 (1.04)^t

population in 2009 : 335,902 people

Step-by-step explanation:

Hi, to answer this question we have to apply an exponential growth function:  

A = P (1 + r) t  

Where:  

p = original population  

r = growing rate (decimal form) = 4/100 = 0.04

t= years passed from 2000

A = population after t years  

Replacing with the values given:  

A = 236,000 (1+ 0.04)^t

A = 236,000 (1.04)^t

Population in 2009.

t = 2009-2000 = 9  

A = 236,000 (1.04)^9

A = 335,902 people

Feel free to ask for more if needed or if you did not understand something.  

4 0
3 years ago
Sam have 10 books and Mary have 10 books too how manny books they all have
andreev551 [17]
Sam and Mary have 20 books.
8 0
3 years ago
Read 2 more answers
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