All categories

3 years ago

A total of $2,000 is invested at an annual interest rate of 2%. Find the balance in the account after

Mathematics

1 answer:

Anit [1.1K]3 years ago

8 0

Answer:

<u>The balance in the account after 10 years is US$ 2,442.81</u>

Step-by-step explanation:

1. Let's review the data given to us for answering the question:

Investment amount = US$ 2,000

Duration of the investment = 10 years

Annual interest rate = 2% compounded continuously

2. Let's find the future value of this investment after 10 years, using the following formula:

FV = PV * eˣ ⁿ

PV = Investment = US$ 2,000

number of periods (n) = 10 (10 years compounded continuously)

rate (x) = 2% = 0.02

e = 2.71828 (Euler's number)

Replacing with the real values, we have:

FV = 2,000 * (2.71828)^0.02*10

FV = 2,000 * 2.71828^0.2

FV = 2,000 * 1.2214027

You might be interested in

Jacob sells homemade skateboard decks for a profit of $27 per deck. He is considering switching to a new type of material that w

BARSIC [14]

Answer:

in your equation it says (y=32x) which 32 will mean how much he is charging for each skateboard, x will be how many he sells, and y would be how much he makes from selling them. So if he sold 2 skateboards you would do

Step-by-step explanation:

8 0

3 years ago

How many more unit tiles need to be added to the expression x2+4x+3 in order to form a perfect square trinomial?

son4ous [18]

Answer:

(x-1)(x-3)

Step-by-step explanation:

It is not a perfect square trinomial but

6 0

3 years ago

Read 2 more answers

Which is better estimate for the volume of a tube of toothpaste 6 tablespoon 6 cups?

Archy [21]

Answer:

6 tablespoons

Step-by-step explanation:

It's more logical because tubes of toothpaste do not require such a large amount of toothpaste. Look at your toothpaste tube. I'm sure that it is closer to 6 tablespoons rather than 6 cups.

8 0

3 years ago

What conclusion can be made based on this multiplication problem?

Elena L [17]

Answer:

I believe it is twenty-one is 7 times the size of 3

Step-by-step explanation:

4 0

3 years ago

Find the amount of cardboard needed to make a box for a single slice of pizza. The box is shoen in the shape of a triangular pri

Molodets [167]

For this case, what you should do is calculate the surface area of the figure.
We have then:
Triangles:
A1 = (1/2) * (7) * (12)
A1 = 42 in ^ 2
Rectangles:
A2 = (1) * (12.5)
A2 = 12.5 in ^ 2
A3 = (1) * (7)
A3 = 7 in ^ 2
Finally, the total surface area is:
A = 2A1 + 2A2 + A3
Substituting values:
A = 2 (42) + 2 (12.5) + (7)
A = 84 + 25 + 7
A = 116 in ^ 2
Answer:
the amount of cardboard needed to make a box for a single slice of pizza is:
A = 116 in ^ 2

8 0

3 years ago