Answer:
After 1 year: $7,256.59
After 5 years: $8,380.52
After 20 years: $14,381.03
APY = 3.66%
Step-by-step explanation:
If you deposit $7000 with an interest of 3.6%, after 1 year using continuous compounding, you will have
After 5 years you will have
After 20 years
To find the APY for the account, we have to compute the interest earned in one year.
We can do it by cross multiplying or by finding a number x such that
Operating on this equation we obtain
x = 0.0366 or 3.66%
Answer:
3.91 < 4.1 < 4.23 < 4.44
Step-by-step explanation:
The answer is D
x+y=-1
x-2y=14
(use desmos graphing calculator)
Answer:
w=14
l=18
Step-by-step explanation:
To find the dimensions, create an equation for its area and solve for each using the area formula A = l*w. The dimensions given are A = 252, w for width and l= w+4 (4 more than the width).
The width is 14 so the length is l=w+4 or l= (14)+4 =18
Answer:
The interest rate was of 5.5% a year.
Step-by-step explanation:
The compound interest formula is given by:
Where A(t) is the amount of money after t years, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per unit year and t is the time in years for which the money is invested or borrowed.
In this question, we have that:
We have to find r.
Taking the square root from both sides to isolate r.
The interest rate was of 5.5% a year.