Tina randomly picks a card from a deck. She does not put the card back. Tina then randomly picks another card from the same deck
2 answers:
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The annual yield on Frances’s stock approximately will be 0.0758. Then the correct option is A.
<h3>What is Algebra?</h3>Algebra is the study of mathematical symbols and the rule involves manipulating these mathematical symbols.
Frances bought 144 shares of Dwyn horticulture for $7.73 apiece. her broker charged her a commission of $46.15 for the purchase.
Then the total amount spent by the company will be
→ 144 × $7.73 + $46.15 = $ 1159.27
If the yearly dividend on Dwyn horticulture is 61 cents per share, then the annual yield on Frances’s stock will be
More about the Algebra link is given below.
Answer:
Part A)
About $3767.34.
Part B)
About $3692.47.
Step-by-step explanation:
Part A)
Recall that compound interest is given by the formula:
Where <em>A</em> is the final amount, <em>P</em> is the initial amount, <em>r</em> is the interest rate, <em>n</em> is the number of times compounded per year, and <em>t</em> is the number of years.
To obtain $4000 after two years, let <em>A</em> = 4000 and<em> t</em> = 2.
Because the account pays 3% interest compounded monthly, <em>r</em> = 0.03 and <em>n</em> = 12.
Substitute and solve for <em>P: </em>
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In concluion, about $3767.34 should be deposited.
Part B)
Recall the formula for continuous compound:
Where <em>e</em> is Euler's number.
Hence, let <em>A</em> = 4000, <em>r</em> = 0.04 and <em>t</em> = 2. Substitute and solve for <em>P: </em>
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In conclusion, about $3692.47 should be deposited.