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4 years ago

7

Kendrick opened a savings account and deposited $3,000.00 as principal. The account earns 6% interest, compounded quarterly. How

much interest will he earn after 7 years?

2 answers:

IRISSAK [1]4 years ago

3 0

Answer:

Amount of interest after 7 years = $12335.06

Step-by-step explanation:

First total number of quarters in 7yrs is calculated

a year has four quarters, hence 7yrs will have = 4 x 7 = 28 quarters

Using the compound interest expression

Amount after 7 yrs = P(1+r%)²⁸

A = 3000 (1+0.06)²⁸ = $15335.06

Hence amount of interest after 7 years = 15335.06 - 3000 = 12335.06

Eva8 [605]4 years ago

3 0

Answer:

$1551.67

Step-by-step explanation:

At Compound Interest, the Amount, A accrued by a Principal P for a period of t years compounded n times in a year at a rate of r is derived using the formula:

$A=P(1+\frac{r}{n})^{nt}$

P=$3,000.00

r=6% = 0.06

n=4 (Since it is compounded quarterly)

t= 7 years

$A=P(1+\frac{r}{n})^{nt}$

$A=3000(1+\frac{0.06}{4})^{4 X 7}\\ =3000(1+0.015)^{28}\\ =3000(1.015)^{28}\\ =4551.67$

The Interest earned after 7 years will be:

Interest= Amount - Principal

=4551.67 - 3000

=$1551.67

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Monica [59]

( 1, ∞) is the domain of (b o a)(x)

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A function is defined as a relation between a set of inputs having one output each.

According to the question,

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8 0

2 years ago

The expression sin 57° is equal to

ValentinkaMS [17]

Answer:

$cos(33^{\circ})$

Step-by-step explanation:

Given

$sin(57^{\circ})$

Required

Determine an equivalent expression

In trigonometry:

$sin(\theta)= cos(90^{\circ} - \theta)$

In $sin(57^{\circ})$

$\theta=57^{\circ}$

Substitute $57^{\circ}$ for $\theta$

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5 0

3 years ago

The standard deviation of the weights of elephants is known to be approximately 15 pounds. We wish to construct a 95% confidence

JulsSmile [24]

Answer:

The 95% confidence interval for the population mean weight of newborn elephants is between 242.12 pounds and 245.88 pounds.

Step-by-step explanation:

We have that to find our $\alpha$ level, that is the subtraction of 1 by the confidence interval divided by 2. So:

$\alpha = \frac{1-0.95}{2} = 0.025$

Now, we have to find z in the Ztable as such z has a pvalue of $1-\alpha$ .

So it is z with a pvalue of $1-0.025 = 0.975$ , so $z = 1.96$

Now, find M as such

$M = z*\frac{\sigma}{\sqrt{n}}$

In which $\sigma$ is the standard deviation of the population and n is the size of the sample.

$M = 1.96*\frac{15}{244} = 1.88$

The lower end of the interval is the sample mean subtracted by M. So it is 244 - 1.88 = 242.12 pounds.

The upper end of the interval is the sample mean added to M. So it is 244 + 1.88 = 245.88 pounds

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5 0

4 years ago

(4x-2)(2x-6) in standard form

lesya692 [45]

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8 0

3 years ago

Help<br> =================

Nezavi [6.7K]

Answer:

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Step-by-step explanation:

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8 0

3 years ago