1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
AysviL [449]
3 years ago
11

The total amount of money in a savings account after t years is given by the function A=1000(1.031)^t . How could this function

be rewritten to identify the monthly interest rate? What is the approximate monthly interest rate?
Mathematics
2 answers:
harina [27]3 years ago
5 0

Answer:

A = 1000 ( 1 + .031/12) ^(12t)

The approximate monthly interest rate is .2583 percent

Step-by-step explanation:

A=1000(1.031)^t

The formula for compound interest is given by

A = P(1 + r/n) ^ (nt)    

Take 1.031 and subtract 1

.031 is the yearly rate in decimal form

A = 1000 ( 1 + .031/12) ^(12t)

Change to a percent = 3.1 %

Divide by 12

3.1/12 = .2583333333(repeating)  %

This would be the monthly rate

Sladkaya [172]3 years ago
4 0

Hi There!

Step-by-step explanation:

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

Function: A=1000(1.031)^t

1.031 - 1 = 0.031 = 3.1%

a = 1000(0.031/12 + 1)^12t

a = 0.0025833333333333333333333333333333333333...

Answer:

0.002583...

Hope This Helps :)

You might be interested in
Sarah, Dan & Gavyn share some
gregori [183]

Answer:

$11.25

Step-by-step explanation:

45/4=11.25

5 0
2 years ago
What's the value 2s in 2,200
inessss [21]
The first two is worth 2,000 and the second is worth 200. 
8 0
3 years ago
Read 2 more answers
I need an answer quick. I am trying to finish this fast.
inessss [21]

Answer:

D, m<4 is 137°

Step-by-step explanation:

The answer would be D, because m<4 would be supplementary with the angle that's 43 degrees. Supplementary angles add up to 180, so this could be found through the following equation.

x + 43 = 180

x would represent <4

You would now subtract 43 from both sides.

x = 137

8 0
3 years ago
Read 2 more answers
6 m 6 m 19 m Not drawn to scale Find the volume of the triangular prism.
Aloiza [94]
The answer is 3) 324
7 0
3 years ago
Use inductive reasoning to predict the next line in the pattern. Then perform the arithmetic to determine whether your conjectur
iren2701 [21]

Answer:

8(5) + 8(25) + 8(125) + 8(625) +8(3125)= 10(3125 - 1)=31240

Hence proved Conjecture is correct

L.H.S=R.H.S

Step-by-step explanation:

Consider the pattern:

8(5)=10(5-1)=40

8(5) + 8(25) = 10(25 - 1) =240

8(5) + 8(25) + 8(125) = 10(125 - 1) =1240

8(5) + 8(25) + 8(125) + 8(625) = 10(625 - 1)=6240

According to inductive reasoning next term of pattern will become:

8(5) + 8(25) + 8(125) + 8(625) +8(3125)= 10(3125 - 1)=31240

Checking whether conjecture is correct or not:

Consider L.H.S:

8(5) + 8(25) + 8(125) + 8(625) +8(3125)

40+200+1000+5000+25000

31240

R.H.S:

31240

Hence proved Conjecture is correct

L.H.S=R.H.S

7 0
3 years ago
Other questions:
  • The perimeter of a quadrilateral is 38 yards. If three of the sides measure 5.8 yards, 7 yards, and 11.2 yards, what is the leng
    9·1 answer
  • Find the inverse function of f(x)= square root of 2x+2
    8·1 answer
  • Origanal 240 pages 20% increase
    5·2 answers
  • Buses to Acton leave a bus station every 24 minutes. Buses to Barton leave a bus to Barton every 20 minutes A bus to Acton and a
    7·1 answer
  • 2 (-n -3) -7 (5 + 2n)
    7·1 answer
  • I don’t know help. Please paying 80 points
    6·2 answers
  • A clown bought 18 bags of round balloons with 20 balloons in each bag. He bought 24 bags of long balloons with 35 balloons in ea
    7·1 answer
  • PLEASE PLEASE ANSWER
    5·2 answers
  • A group of friends were working on a student film that had a budget of $1200. They use 63% of their budget on equipment. How muc
    15·2 answers
  • What is the length of the hypotenuse?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!