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xeze [42]
3 years ago
5

A person invests 9500 dollars in a bank. The bank pays 5.75% interest compounded quarterly. To the nearest tenth of a year, how

long must the person leave the money in the bank until it reaches 12600 dollars?
Mathematics
1 answer:
sweet [91]3 years ago
6 0

Answer:

4.9 years

Step-by-step explanation:

Future value is the sum of amount invested and its compounded interest for a specific period of time and on a specific interest rate.

Investment = Present value = $9,500

Future value = $12,600

To find the numbers of years we will use following formula

Future value = Present value x ( 1 + r )^n

r = interest rate = 5.75%

n = number of periods = ?

Placing values in the formula

$12,600 = $9,500 x ( 1 + 5.75%/4 )^n

$12,600 / $9,500 = 1.014375^n

1.3263 = 1.014375^n

Log 1.3263 = n log 1.014375

n = Log 1.3263 / log 1.014375

n = 19.7856 Quarters

n = 4.9 years

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Answer:

I will need 26.4 pounds of the expensive nuts and 1.6 pounds of the cheap nuts.

Step-by-step explanation:

Since I have one type of nut that sells for $ 4.50 / lb and another type of nut that sells for $ 8.00 / lb, and I would like to have 28 lbs of a nut mixture that sells for $ 7.80 / lb, to determine how much of each nut will I need to obtain the desired mixture, the following calculation must be performed:

8 x 0.95 + 4.5 x 0.05 = 7.825

8 x 0.94 + 4.5 x 0.06 = 7.79

0.94 x 28 = 26.32

26.4 x 8 + 1.6 x 4.5 = 218.4

218.4 / 28 = 7.8

Thus, I will need 26.4 pounds of the expensive nuts and 1.6 pounds of the cheap nuts.

7 0
2 years ago
Sample Response: First, I wrote each ratio as a fraction. Then I found a common denominator of 20. The fraction 4/10 is 8/20. Co
lesantik [10]

In the case above, the option that one need to include in your answer is to Find a common denominator.

<h3>What is Fraction in lowest terms?</h3>

When the numerator and denominator of a fraction are known to not have common factor other than 1, then a person can say that the fraction in its simple form or say its in its lowest term.

Since there is a common numerator and the common denominator will be between 10 and 20. Since 10 is less that than 20, the common denominator will be 20 as both can divide it.

Hence, In the case above, the option that one need to include in your answer is to Find a common denominator.

Learn more about Fraction from

brainly.com/question/78672

#SPJ1

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1 year ago
Which unit of measure is the most reasonable to measure the length from your house to the grocery store?
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Cheryl uses the graph below to convert x, a measurement give to y, the equivalent measurement in another unit. Which of the foll
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Mhanifa can you please help? I will mark brainliest!
Rzqust [24]

Answer:

<u>Given function</u>

  • h(x) = 2x - 1

#15 Find the inverse of h(x)

<u>Substitute x with y and h(x) with x and solve for y:</u>

  • x = 2y - 1
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  • y = 1/2x + 1/2

<u>The inverse is:</u>

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#16 The graph with both lines is attached.

The x- and y-intercepts of both functions have reversed values.

#17 Table of the inverse function  will contain same numbers with swapped domain and range.

<u>Initial look is like this:</u>

  • <u>x        |  -3  |  -2  | -1  |  0  |    1  |  2  | 3</u>
  • h⁻¹(x)  |  -1   |       | 0   |      |    1  |      | 2

<u>The rest of the table is filled in by finding the values:</u>

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