Ask question

Ask question

All categories

3 years ago

15

Use the formula for computing future value using compound interest to determine the value of an account at the end of 7 years if

a principal amount of $2,500 is deposited in an account at an annual interest rate of 4% and the interest is compounded daily. (Assume there are 365 days in a year.) Round to the nearest cent as needed.)
The amount after 7 years will be ?

1 answer:

andriy [413]3 years ago

5 0

<span>In 7 years, you will have $3,307.77

Formula:
</span>

<span>A = P (1 + r/n)^<span>(nt)</span></span>

Where:

A = the future value of the investment/loan, including interest
P = the principal investment amount (the initial deposit or loan amount)
r = the annual interest rate (decimal)
n = the number of times that interest is compounded per year
t = the number of years the money is invested or borrowed for

You might be interested in

What is the little t in Torricelli’s law

svp [43]

In its simplest form, Torricelli's law states that water in a tank will escape through a (small) hole in the bottom with the same speed that it would attain falling from the same height to the level of the hole. ... velocity, g is the acceleration due to gravity, and h is the height of the fluid in the container. Hope that helps!

4 0

3 years ago

Rewrite this standard form quadratic equation into vertex form by completing the square. Upload your work here to show your thin

Alex787 [66]

Solution :

Given the equation :

$y = x^2 - 6x+3$

$y=1(x^2 - 6x +n)+3$

$n = \left(\frac{b}{2}\right)^2$

$n = \left(\frac{6}{2}\right)^2$

n = 9

$y=1(x^2 - 6x +9-9)+3$

$y=1(x^2 - 6x +9)-9+3$

$y=1(x-3)^2- 6$

Therefore the vertex form of $y = x^2 - 6x+3$ is $y=1(x-3)^2- 6$ .

3 0

2 years ago

For which function is f(x) equal to f^1(x) ( answer choices in picture )

Sonja [21]

Answer:

C. $f(x)=\frac{x+1}{x-1}$

Step-by-step explanation:

Let's find the inverse of each of the given options.

Option A:

$f(x)=\frac{x+6}{x-6}\\y=\frac{x+6}{x-6}$

To find $f^{-1}(x)$ , replace 'x' with 'y' and 'y' with 'x'. This gives,

$x=\frac{y+6}{y-6}$

Rewrite in terms of 'y'. This gives,

$x(y-6)=y+6\\xy-6x=y+6\\xy-y=6x+6\\y=\frac{6x+6}{x-1}$

The given function $y=\frac{6x+6}{x-1}\ne y=\frac{x+6}{x-6}$

So, option A is incorrect.

Option B:

$f(x)=\frac{x+2}{x-2}\\y=\frac{x+2}{x-2}$

To find $f^{-1}(x)$ , replace 'x' with 'y' and 'y' with 'x'. This gives,

$x=\frac{y+2}{y-2}$

Rewrite in terms of 'y'. This gives,

$x(y-2)=y+2\\xy-2x=y+2\\xy-y=2x+2\\y=\frac{2x+2}{x-1}$

The given function $y=\frac{2x+2}{x-1}\ne y=\frac{x+2}{x-2}$

So, option B is incorrect.

Option C:

$f(x)=\frac{x+1}{x-1}\\y=\frac{x+1}{x-1}$

To find $f^{-1}(x)$ , replace 'x' with 'y' and 'y' with 'x'. This gives,

$x=\frac{y+1}{y-1}$

Rewrite in terms of 'y'. This gives,

$x(y-1)=y+1\\xy-x=y+1\\xy-y=x+1\\y=\frac{x+1}{x-1}$

The given function $y=\frac{x+1}{x-1}\ equals\ y=\frac{x+1}{x-1}$

So, option C is correct.

Option D:

$f(x)=\frac{x+5}{x-5}\\y=\frac{x+5}{x-5}$

To find $f^{-1}(x)$ , replace 'x' with 'y' and 'y' with 'x'. This gives,

$x=\frac{y+5}{y-5}$

Rewrite in terms of 'y'. This gives,

$x(y-5)=y+5\\xy-5x=y+5\\xy-y=5x+5\\y=\frac{5x+5}{x-1}$

The given function $y=\frac{5x+5}{x-1}\ne y=\frac{x+6}{x-6}$

So, option D is incorrect.

Therefore, only option C is correct.

7 0

3 years ago

$300 invested at 12% compounded monthly after a period of 1.5 years

GalinKa [24]

Answer: $358.8 to the nearest tenth

Step-by-step explanation:

Compound interest is calculated by Where: A = P(1 + r)t

Where P= 300, r= 12% = 0.12, t= 1.5 years

Slot in the figures

300 (1 + 0.12) 1.5

300 (1.12) 1.5

300x 1.12

336e1.12

A = $ 358.84

4 0

2 years ago

1. Jan spends part of her year as a member of a

antiseptic1488 [7]

Answer:

13 months in a half......

3 0

3 years ago