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ipn [44]
3 years ago
15

you invest $2800 in an account that pays an interest of 5.5%, compounded continuously. calculate the balance of your account aft

er 12 years. round answer to the nearest hundredth. LAST QUESTION AND I NEED IT CORRECT PLSSS
Mathematics
2 answers:
LuckyWell [14K]3 years ago
5 0

Hi, hope this helps you. Have a good day. :)

Answer:

A = $5,417.42 (balance of the account)

I = $2,617.42

AlexFokin [52]3 years ago
5 0

Answer:

The balance in the account after 12 years is $5417.42

Step-by-step explanation:

* Lets talk about the compound continuous interest

- Compound continuous interest can be calculated using the formula:

 A = P e^rt

• A = the future value of the investment, including interest

• P = the principal investment amount (the initial amount)

• r = the interest rate

• t = the time the money is invested for

- The formula gives you the future value of an investment,

  which is compound continuous interest plus the

  principal.

- If you want to calculate the compound interest only, you need

 to deduct the principal from the result.

- So, your formula is:

 Compounded interest only = Pe^(rt)  - P

* Now lets solve the problem

∵ P = $ 2800

∵ r = 5.5/100 = 0.055

∵ t = 12

∴ A = 2800 e^(0.055 × 12) = $5417.42

* The balance in the account after 12 years is $5417.42

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Anna [14]

Answer:

The florist can make 11 regular bouquets and 21 mini bouquets

Step-by-step explanation:

The number of roses the florist has = 118 roses

The number of peonies the florist has = 226 peonies

The number of roses in each regular bouquet = 5 roses

The number of peonies in each regular bouquet = 11 peonies

The number of roses in each mini bouquet = 3 roses

The number of peonies in each mini bouquet = 5 peonies

1. The equation that gives the total number of roses to be used in both kinds of bouquet is given as follows;

Let r represent the number of regular bouquet the florist can make and let m represent the number of mini bouquet the florist can make, we have;

5·r + 3·m = 118...(1)

2. Similarly, we have;

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Making m the subject of the formula of both equations, and equating both values of m to find a common solution, we have;

m = (118 - 5·r)/3

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(118 - 5·r)/3 = (226 - 11·r)/5

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m = (118 - 5·r)/3 = (118 - 5×11)/3 = 21

m = 21

The number of mini bouquet the florist can make = m = 21

The number of regular bouquet the florist can make = 11 bouquets

The number of mini bouquet the florist can make = 21 bouquets.

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