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AysviL [449]
4 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]4 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]4 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 :)

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Determine the point estimate of the population proportion, the margin of error
ahrayia [7]

Answer:

\hat p=0.645\\\\ME=0.233\\\\x=645 \ individuals

Step-by-step explanation:

-Given the boundaries as 0.412 and 0.878

-\hat p is the point estimate for the population proportion and is calculated as follows:

\hat p=\frac{Upper \ Bound+Lower \ Bound}{2}\\\\=\frac{0.878+0.412}{2}\\\\=0.645\\\\

#The margin of error, ME can be calculated for the confidence intervals using the formula:

ME=\frac{Upper \ Bound-Lower \ Bound}{2}\\\\=\frac{0.878-0.412}{2}\\\\=0.233

#The number of individuals in the sample is the product of the point estimate and population size:

\hat p=\frac{x}{n}\\\\x=\hat pn\\\\=0.645\times 1000\\\\=645

Hence, there are 645 individuals in the sample.

8 0
3 years ago
Maxine and Sammie have to also mow their parking strips that are the
Lemur [1.5K]

I believe the answer is 3 minutes

At the 3 minute mark, Maxine will be half way done and Sammie will still have 6 minutes left to mow the grass

5 0
3 years ago
Which of the following is equivalent to 180 centimeters?
den301095 [7]
The answer is 1.8 meters
4 0
3 years ago
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A sweater is on sale for 40 percent off its origanal price of 29.95 what is the amount of savings
horrorfan [7]

0.4×29.95

=11.98 so your answer is 11 dollars and 98 cents

8 0
3 years ago
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A rectangular box is 32 cm wide and 36 cm high. If the surface area of the box is 4344 square​ centimeters, find the length of t
AnnZ [28]

To find the surface area, multiply length x width x height.

let "length" = l

l x 32 x 36 = 4344

Simplify

l x (32 x 36) = 4344

l x 1152 = 4344

Isolate the length. Divide 1152 from both sides

(l x 1152)/1152 = (4344)/1152

l = 4344/1152

l = 3.77 (rounded)

3.77 cm is your length.

hope this helps

8 0
3 years ago
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