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
Agata [3.3K]
4 years ago
14

Kristin opens a savings account with $3500. She deposits $2400 every year into the account that has a 0.65% interest rate, compo

unded quarterly. If she doesn't withdraw any money, what will the account balance be in 10 years?
1. $28551.51
2. $24776.39
3. $28511.25
4. $24816.65
I don't know what formula to use or how to solve.
Mathematics
1 answer:
motikmotik4 years ago
8 0
To find the account balance for this question you have to use the formula of a compound interest and the formula of the future value of an annuity ordinary.

The formula of a compound interest is
A=p (1+r/k)^kt
A future value?
P present value 3500
R interest rate 0.0065
K compounded quarterly 4
T time 10 years

Also the formula of the future value of an annuity ordinary is
Fv=pmt [(1+r/k)^(kt)-1)÷(r/k)]
Fv future value?
PMT since the payment per year is 2400 so you should find the payment per quarter which is 600 (2400÷4) because the interest is quarterly.
R interest rate 0.0065
K compounded quarterly 4
T time 10 years

The sum of those two formulas is the answer.
The balance is
3,500×(1+0.0065÷4)^(4×10)
+600×(((1+0.0065÷4)^(4
×10)−1)÷(0.0065÷4))
=28,511.25.....answer

You might be interested in
What is 20/8 in the lowest mixed form?
Kisachek [45]

20/8 = 10/4 = 5/2

So, it's mixed form would be 2 1/2

8 0
3 years ago
Help soon as possible :)
Marianna [84]

Answer:

(3x+5y)(3x-5y)

Step-by-step explanation:

6 0
3 years ago
The question is: "Without actually graphing, describe how the graph of y = ( -2^(x+17) ) - 4.3 is related to the graph of y = 2^
mojhsa [17]

Answer:

The function has been flipped due to the negative in front.

The function has been shifted 17 units to the left.

The function has been shifted 4.3 units down.

Step-by-step explanation:

When functions are transformed there are a few simple rules:


  • Adding/subtracting inside the parenthesis to the input shifts the function left(+) and right(-).
  • Adding/subtracting outside the parenthesis to the output shifts the function up(+) and down(-).
  • Multiplying the function by a number less than 1 compresses it towards the x-axis.
  • Multiplying the function by a number greater than 1 stretches it away from the x-axis.
  • Multiplying by a negative flips the graph.

The graph of (-2^{x+17}) -4.3 compares to 2^x in the following ways:

The function has been flipped due to the negative in front.

The function has been shifted 17 units to the left.

The function has been shifted 4.3 units down.

7 0
3 years ago
Who can tutor me for free
krok68 [10]

Answer:

Do not ask for free tutoring (Nobody will really do it)

Step-by-step explanation:

Just use Brainly! Ask for questions and explanations and do what you can to get your work done. After that if you need further help then ask a parent/guardian/sibling or someone you know for help and if that doesn't work then come back to this. Hope this helps.

4 0
3 years ago
How to make my answer for 0.70 a fraction
miss Akunina [59]

Answer:

0.70 = 7/10

Step-by-step explanation:

6 0
3 years ago
Read 2 more answers
Other questions:
  • What is 199,22 - 100
    10·2 answers
  • A jacket is on sale for 20% off the regular price. The sale price ism$50.00. What is the regular price of the jacket?
    15·2 answers
  • What are the seven steps needed to reconcile a bank statement?
    5·1 answer
  • The equation that measures the shape of your contact lens is -0.5x2 + 6x – 16 = 0. The lens maker cuts the lens material at the
    11·1 answer
  • Jody has 4 red marbles, 5 blue marbles, and 9 yellow marbles. What is the ratio of red marbles to blue marbles?
    10·2 answers
  • Solve: The number of students is 7 more than 5 times the number of teachers there are 12 teachers how many students are there
    11·2 answers
  • 30 POINTS AND BRAINLIST FOR RIGHT ANSWER
    7·1 answer
  • Solve x2 + 14x = −24 by completing the square.
    11·2 answers
  • You want to order a new computer. The manufacturer is offering a discount of 12% off the original price of the computer for stud
    7·2 answers
  • Who can someone answer this im having trouble
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!