You invest $9000 with a 6% interest rate compounded semiannually. After 9 yrs, how much money is in your account?

1 answer:

7 0

$\bf \qquad \textit{Compound Interest Earned Amount}
\\\\
A=P\left(1+\frac{r}{n}\right)^{nt}
\quad 
\begin{cases}
A=\textit{accumulated amount}\\
P=\textit{original amount deposited}\to &\$9000\\
r=rate\to 6\%\to \frac{6}{100}\to &0.06\\
n=
\begin{array}{llll}
\textit{times it compounds per year}\\
\textit{semi-annually, thus twice}
\end{array}\to &2\\

t=years\to &9
\end{cases}
\\\\\\
A=9000\left(1+\frac{0.06}{2}\right)^{2\cdot 9}$

You might be interested in

mridul jogs around a rectangular park of 100m by 80m at the rate of 9km per hour. how much time will he take in jogging 6 rounds

anyanavicka [17]

Answer:

14minutes

Step-by-step explanation:

first you need to find the distance which you must find the perimeter P=100+80+100+80

=360 so you multiple it by 6 to get

=2160meters

so you need to convert the meters to kilometers

which is 1000m =1km

what about 2160m you cross multiply

to get 2.16km.

so the distance represent D=2.16 km

and speed represent S=9km

now you need to find time represented by T

T=D/S

T=2.16km/9km/h

so the km cancels each other

you get 0.24h for this isn't the solution

you know that 1 hour= 60 minutes

 what about 0.24h you cross multiply

to get 14.4 so you round it off to get 14 minutes

3 0

3 years ago

A 11-inch candle burns down in 4 hours. At what rate does the candle burn, in inches per hour?

aliya0001 [1]

2.75 inches per hour

11/4=2.75

8 0

2 years ago

Read 2 more answers

If f(x)=x^2-7 and h(x)=7x-5, then f(h(2))=

zaharov [31]

We are given 3 equations. Using these equations we can find f(h(2)).

h(x)=7x-5
h(2)=7(2)-5
h(2)=14-5
h(2)=9

f(x)=x^2-7
f(h(2))=(7x-5)^2-7
we know the answer for h(2) by now, so we can substitute for that.
f(9)=9^2-7
f(9)=81-7
f(9)=74

so f(h(2))=74

5 0

3 years ago

Solve for a: a + 1 > 7

g100num [7]

Answer:

$a>6$