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4 years ago

7800 dollars is placed in an account with annual interest rate of 6.5. how much will be in the account after 29 years

Mathematics

1 answer:

Andru [333]4 years ago

7 0

Answer:

Approx. $48,443.25, if rounding up to the hundredths place.

Step-by-step explanation:

For this problem, use the formula for compound interest:

a = p(1 + r/n)^nt

- P represent the initial amount placed in an account.

- R is the interest rate.

- N is the number of times the interest rate is compounded; If compounded once a year or annually, n would be equal to one.

- T is the amount of time.

So, based on the question, we can fill in some of the formula. "7800 dollars is placed in an account", "annual interest rate of 6.5", and "after 29 years" tell us what the variables above stand for within this problem.

I then filled in the formula (this is assuming the interest rate is 6.5%) :

a = 7800(1 + .065/1)^29

Now we solve-

1. First, solve within the parenthesis:

a = 7800(1.065^1)^29

2. Solve the exponent outside of the parenthesis:

a = 7800 * 6.21067245356

3. Multiply:

a = 48,443.245137768 or approx. $48,443.25

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Step-by-step explanation:

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3 years ago

Read 2 more answers

Please answer the question in the photo, thanks!

belka [17]

Answer:

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Step-by-step explanation:

The question relates to dividing a fraction by proper and another fraction

The given expression is presented as follows;

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We rearrange the fractions as improper fractions for easier division as follows;

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Therefore, we have;

$2\dfrac{1}{3} \div \left ( -3\dfrac{2}{3} \right ) = \dfrac{7}{3} \div \left (-\dfrac{11}{3} \right ) = \dfrac{7}{3} \times \left (\dfrac{1}{-\dfrac{11}{3} } \right ) = \dfrac{7}{3} \div \left (-\dfrac{3}{11} \right ) =-\dfrac{7}{11}$

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3 years ago

Y= -4x + 10? What is the slope of the line?

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Step-by-step explanation:

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3 years ago

Solve the system of equations

rewona [7]

Answer:

x = 1/4

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Step-by-step explanation:

Here we have a system of 3 equations with 3 variables:

4*x + 2*y + 1 = 1

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x + 3*y + z = 1

The first step to solve this, is to isolate one of the variables in one of the equations, let's isolate "y" in the second equation:

2*x - y = 1

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Now that we have an expression equivalent to "y", we can replace this in the other two equations:

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Now let's simplify these two equations:

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Now, in the first equation we have only the variable x, so we can solve that equation to find the value of x:

8*x - 1 = 1

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Now that we know the value of x, we can replace this in the other equation to find the value of z.

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Then the solution is:

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3 years ago

7800 dollars is placed in an account with annual interest rate of 6.5. how much will be in the account after 29 years​

7800 dollars is placed in an account with annual interest rate of 6.5. how much will be in the account after 29 years