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Usimov [2.4K]
3 years ago
10

John invests $3,000 into an account that earns 4.7% interest compounded quarterly. Write an equation and us it to find the value

of John's investment after 12 years
Mathematics
1 answer:
kow [346]3 years ago
8 0

Answer:

The equation is;

A = 9,000(1 + 0.047/4)^48

The value is

$15,767.28

Step-by-step explanation:

Here we want to find the value of an investment after 12 years, given its interest rate;

Mathematically the amount which is the value would be;

A = I( 1 + r/n)^nt

Where A is the amount in 12 years

I is the initial amount invested = $3,000

r is the interest rate = 4.7% = 4.7/100 = 0.047

n is the number of times interest is compounded yearly = 4 since it is quarterly ( once every three months)

t is the number of years = 12

Substituting these values, we have

A = 9,000(1 + 0.047/4)^(12^4)

A = 9,000(1 + 0.047/4)^48

The above is the expression

A = 9,000(1 + 0.01175)^48

A = 9,000(1.01175)^48

A = $15,767.28

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alexandr402 [8]

Answer:

True. See the explanation and proof below.

Step-by-step explanation:

For this case we need to remeber the definition of linear transformation.

Let A and B be vector spaces with same scalars. A map defined as T: A >B is called a linear transformation from A to B if satisfy these two conditions:

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Proof

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For this case we have the following assumption:

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And the following conditions:

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And we can express like this T(A+B) =T(A) + T(B)

3) If A \in M_{mxn}(R) and c \in R then we have this:

T(cA) = (cA)^T = cA^T = cT(A)

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3 years ago
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