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
The surface are I cannot find
Ilia_Sergeevich [38]

check the picture below.


so the triangular prism is really just 3 rectangles and 2 right-triangles,

now, we know the base of one of the triangles is 2.6, what's its height?

since it's a right-triangle, we can simply use the pythagorean theorem to get "h".


\bf \textit{using the pythagorean theorem}
\\\\
c^2=a^2+b^2\implies \sqrt{c^2-a^2}=b
\qquad
\begin{cases}
c=\stackrel{hypotenuse}{5.2}\\
a=\stackrel{adjacent}{2.6}\\
b=\stackrel{opposite}{h}\\
\end{cases}
\\\\\\
\sqrt{5.2^2-2.6^2}=h\implies 4.5\approx h


so, we can now, simply get the area of both of the triangles and the three rectangles and sum them up, and that's the area of the triangular prism.


\bf \stackrel{two~triangles}{2\left[ \cfrac{1}{2}(2.6)(4.5) \right]}~~+~~\stackrel{rectangle}{(2.6\cdot 4.3)}~~+~~\stackrel{rectangle}{(4.3\cdot 3.9)}~~+~~\stackrel{rectangle}{(4.3\cdot 5.2)}
\\\\\\
11.7+11.18+22.36\implies \blacktriangleright 45.24 \blacktriangleleft

5 0
3 years ago
Read 2 more answers
Torrie could buy 8 jars of Jiffy peanut butter for $27.12 or 7 jars of Peter Pan peanut butter for $26.53. What is the differenc
VLD [36.1K]

Answer:

(D)

Step-by-step explanation:

4 0
3 years ago
Does the remainder round up or down to get an average whole number
sergij07 [2.7K]

Answer:

It rounds up

Step-by-step explanation:

It rounds up because it just does

8 0
3 years ago
Mr. And Mrs ikan deposited $15,000 into college savings accounts with an annual compound interest rate 5.25% when their daughter
m_a_m_a [10]

Answer:

$37,650

Step-by-step explanation:

A=15000(1+0.0525)^18

A=15000(2.51)

A=37650

8 0
3 years ago
What is the combined weight of all the kittens? Weight of kittens: 1/4 pound: 3 kittens. 3/8 pound: 2 kittens. 1/2 pound: 4 kitt
Naya [18.7K]

Answer:

6 pounds

Step-by-step explanation:

1/4 times 3 = 3/4

3/8 times 2: 6/8 = 3/4

1/2 times 4: 4/2 = 2

5/8 times 4: 20/8 = 2 1/2

3/4 + 3/4 = 6/4 = 1 1/2

2 + 2 1/2 + 1 1/2 = 6 pounds

5 0
3 years ago
Other questions:
  • What is the product of 5.86 × 10–7 and 3.1 × 104 1. Write the expression: (5.86 × 10–7)(3.1 × 104) 2. Rearrange the expression:
    13·2 answers
  • Please help with this question
    6·1 answer
  • Simplify, answer should have only positive exponents.
    15·1 answer
  • What is the approximate area of the shaded sector in the circle shown below? 
    9·2 answers
  • The formula for the volume V of a rectangular prism is V = ℓwh, where ℓ represents the length, w represents the width, and h rep
    14·1 answer
  • During bowling practice, Marley rolled 14 strikes out of 70 attempts. What percent of Marley’s attempts were strikes?
    11·2 answers
  • How do I find a change in scale factors? I forgot to write notes on how to find a change in scale factors and can’t seem to find
    15·1 answer
  • A-AAS<br> B-ASA<br> C-HL<br> D-SAS<br> E-SSS<br> F-Not congruent
    11·1 answer
  • F r e e e e e e e e e e e e e e e e e e points
    15·2 answers
  • What is the solution to this inequality?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!