If the initial amount (also called as principal amount) is P, and the interest rate is R% per unit time, and it is left for T unit of time for that compound interest, then the interest amount earned is given by:

$CI = P(1 +\dfrac{R}{100})^T - P$

The final amount becomes:

$A = CI + P\\A = P(1 +\dfrac{R}{100})^T$

For the considered case, we're given that:

Initial amount Laura deposited = $5,500 = P
Type of interest: Compound interest
Unit of time: Annually
Rate of interest = 1.6% annually = R
Total unit of time for which amount is to be calculated: 4 years = T

The final amount at the end of 4 years in the considered account of Laura is evaluated as:

$A = 5500(1 + \dfrac{1.6}{100})^4 = 5500(1.016)^4 \approx 5860.53 \: \rm (in \: dollars)$

Thus, he amount that is the closest to the account balance at the end of 4 years is given by: Option B: $5,860. 53 (approx)

Learn more about compound interest here:

brainly.com/question/11897800

5 0

2 years ago

Use this equation to find dy/dx. 3y cos x = x2 + y2

Art [367]

Given: 3y cos x = x² + y²

Define $y' = \frac{dy}{dx}$

Then by implicit differentiation, obtain
3y' cos(x) - 3y sin(x) = 2x + 2y y'
y' [3 cos(x) - 2y] = 2x + 3y sinx)

Answer:
$\frac{dy}{dx} = \frac{2x+3y \, sin(x)}{3cos(x)-2y}$

5 0

2 years ago