Answer:
The time required to get a total amount of $ 640.00 from compound interest on a principal of $ 440.00 at an interest rate of 5.6% per year and compounded 365 times per year is approximately 7 years.
Step-by-step explanation:
Given
- Principle Amount P = $440
- Interest rate r = 5.6% = 0.056
To determine:
Time period t = ?
Using the formula

solving for t
t = ln(A/P) / n[ln(1 + r/n)]
substituting the values A = 640, P = 440, n = 365 and r = 0.056
t = ln(640/440) / ( 365 × [ln(1 + 0.00015342465753425/365)] )
t = 6.691
t ≈ 7 (nearest year)
Therefore, the time required to get a total amount of $ 640.00 from compound interest on a principal of $ 440.00 at an interest rate of 5.6% per year and compounded 365 times per year is approximately 7 years.
The answer is 8
hopefully that helps you
Answer:
y =-2x+8
Step-by-step explanation:
We have a point and a slope
(5,-2) and m =-2
The slope intercept form of a line is
y = mx+b
y = -2x+b
Substitute in the point
-2 = -2(5)+b
-2 = -10+b
Add 10 to each side
-2+ 10 = -10+10 +b
8 = b
The equation is
y =-2x+8
12 3/8 ÷ 3/4
change the mixed fraction to improper....
99 3
__ ÷ __
8 4
now change the sign to a multiplication sign and flip 3/4.
99 4 396
__× __= _____
8 3 24
396/24..... that changes to 16 22/24. Simplify it and it will be 16 11/12.
Answer:
Expected value would be $ 0.896
Step-by-step explanation:
Given,
The price of the lottery ticket = $44800000,
Also, the probability of winning the grand prize = .000000020,
Thus, the expected value of the lottery ticket = value of the lottery ticket × probability of getting the lottery ticket
= 44800000 × .000000020
= $0.896
Note : value of lottery ticket = prize amount - cost of each ticket,
Here the cost price of a ticket is not given,
That's why we did not consider it.