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:

The balance in the account after 10 years is US$ 2,442.81

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

FV = US$ 2,442.81

You might be interested in

BC - Round your answer to the nearest hundredth. B ? 35 A с 2.

mario62 [17]

Answer:

BC ≈ 1.40

General Formulas and Concepts:

Pre-Algebra

Order of Operations: BPEMDAS

Brackets
Parenthesis
Exponents
Multiplication
Division
Addition
Subtraction

Left to Right

Equality Properties

Multiplication Property of Equality
Division Property of Equality
Addition Property of Equality
Subtract Property of Equality

Trigonometry

[Right Triangles Only] SOHCAHTOA
[Right Triangles Only] tanθ = opposite over adjacent

Step-by-step explanation:

Step 1: Identify

Angle θ = 35°

Opposite Leg BC = x

Adjacent Leg AC = 2

Step 2: Solve for x

Substitute [Tangent]: tan35° = x/2
Isolate x: 2tan35° = x
Rewrite: x = 2tan35°
Evaluate: x = 1.40042
Round: x ≈ 1.40

4 0

2 years ago

Read 2 more answers

A shopkeeper bought wheat for Rs. 35000. Due to leakage in the godown 1/7 of the total wheat was spoiled. He sold the good wheat

Alekssandra [29.7K]

Price of spoiled wheat=

$\\ \sf\longmapsto 35000\times \dfrac{1}{7}$

$\\ \sf\longmapsto 5000$

Good wheat cost price=35000-5000=Rs 30000

He sold good wheat at a gain of 10%

$\\ \sf\longmapsto Gain=\dfrac{10}{100}\times 30000$

$\\ \sf\longmapsto Gain=3000$

Now

$\\ \sf\longmapsto Sold\:Price=30000+3000=\boxed{\bf{33000}}$

He sold spoiled wheat at a loss of 25%

$\\ \sf\longmapsto Loss=\dfrac{25}{100}\times 5000$

$\\ \sf\longmapsto 1250$

Now

$\\ \sf\longmapsto Sold\: Price=5000-1250=\boxed{\bf{3750}}$

Total SP:-33000+3750=36750

He got a gain

$\\ \sf\longmapsto Gain\%=\dfrac{36750-35000}{35000}\times 100$

$\\ \sf\longmapsto Gain\%=\dfrac{1750}{350}$

$\\ \sf\longmapsto Gain\%=5\%$

4 0

2 years ago

Read 2 more answers

FInd the slope of a line

postnew [5]

Answer:

The answer is: undefined or infinite

Hope this helps.

7 0

3 years ago

Read 2 more answers

The table shows the height of a plant as it grows. A. Model the data with an equation. B. Based on your model, predict the heigh

Lynna [10]

The answer is number B.
Hopes this helps!
Can you give me 5 star ⭐️?

7 0

3 years ago

Read 2 more answers

Which of the following is not equivalent to the others?

Scrat [10]

Let's find the decimal value of each letter choice.

Choice A: This choice is already in decimal value.

Choice B: To turn this into a decimal, divide this by 100%. You get 0.4. This matches with choice A.

Choice C: To turn this into a decimal, divide this by 100%. You get 0.04. This does not match with A and B.

Choice D: 2/5 can be turned into 40/100. 40/100 can be converted into the decimal of 0.4. This matches with choices A and B.

Thus, the only different answer choice is C. That's your answer. I hope this helps! :)

7 0

3 years ago

Read 2 more answers