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dangina [55]
3 years ago
9

Misha deposited $3,725 into a savings account 22 years ago. The account has an interest rate of 2.2% and the balance is currentl

y $6,012.37. How often does the interest compound?
daily
monthly
quarterly
annually
Mathematics
1 answer:
Annette [7]3 years ago
5 0
The compounding equation is A=P(1+ \frac{r}{n}) ^{nt}. So
 
6012.37 = 3725(1+ \frac{0.022}{n}) ^{22n}    Divide by 3725

1.6141= (1+ \frac{0.022}{n}) ^{22n}

Daily      = (1+ \frac{0.022}{365}) ^{22*365}
              = (1.000060274) ^{8030}
              = 1.6225
Monthly  = (1+ \frac{0.022}{12}) ^{22*12}
              = (1.0018333) ^{264}
              = 1.6218
Quarter  = (1+ \frac{0.022}{4}) ^{22*4}
              = (1.0055) ^{88}
              = 1.6204
Yearly  = (1+ \frac{0.022}{1}) ^{22*1}
              = (1.022) ^{22}
              = 1.6141

The answer is yearly.





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4 0
3 years ago
This year, 1,272 students enrolled in night courses a a local college. Last year only 1,200 students enrolled. What was the perc
Ahat [919]

The percent increase in enrollment is 6 %

The operation used in first step is finding the difference between final value and initial value

<h3><u>Solution:</u></h3>

Given that This year, 1,272 students enrolled in night courses a a local college

Last year only 1,200 students enrolled.

To find: percent increase in the enrollment

The percent increase between two values is the difference between a final value and an initial value, expressed as a percentage of the initial value.

<em><u>The percent increase is given as:</u></em>

\text { percentage increase }=\frac{\text { final value - initial value}}{\text { initial value }} \times 100

Here initial value (last year) = 1200 and final value(this year) = 1272

Substituting the values in above formula,

\begin{aligned}&\text { percentage increase }=\frac{1272-1200}{1200} \times 100\\\\&\text { percentage increase }=\frac{72}{1200} \times 100=6\end{aligned}

Thus percent increase is 6 %

4 0
3 years ago
The sum of two numbers is 73.if one of them is 40,find the other.​
ICE Princess25 [194]

Answer:

Step-by-step explanation:

Let the other number = x

x + 40 = 73

Subtract 40 from both sides

x + 40 - 40 = 73 - 40

x = 33

6 0
3 years ago
Read 2 more answers
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