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
STatiana [176]
3 years ago
13

Judith puts $5000 into an investment account with interest compounded continuously. which approximate annual rate is needed for

the account to grow to $9110 after 30 years?
Business
1 answer:
Oxana [17]3 years ago
3 0
In the question, continuously should be annually.

Solution:
Applicable formula is;
A = P(1+r)^n

Where;
A = Total amount after 30 years = $9,110
P = Amount invested = $5,000
r = Annual interest rate in decimals
n = Number of years = 30

Substituting;
9110 = 5000(1+r)^30
9110/5000 = (1+r)^30
1.822 = (1+r)^30
Taking natural logs on both sides;
ln (1.822) = 30 ln (1+r)
0.5999 = 30 ln (1+r)
0.5999/30 = ln (1+r)
0.019998 = ln (1+r)
Taking exponents on both sides
e^0.019998 = 1+r
1.0202 = 1+r
r = 1.0202 -1 = 0.0202 =2.02%

Therefore, annual interest rate should be 2.02%.
You might be interested in
What advice is given by tom peters in the article customer first? analyse and summarize.​
fiasKO [112]

Answer:

which article?

Explanation:

7 0
2 years ago
The United States Bureau of Labor Statistics (BLS) conducts the Quarterly Census of Employment and Wages (QCEW) and reports a va
Wittaler [7]

Answer:

Answer for the question:

The United States Bureau of Labor Statistics (BLS) conducts the Quarterly Census of Employment and Wages (QCEW) and reports a variety of information on each county in America. In the third quarter of 2016, the QCEW reported the total taxable earnings, in millions, of all wage earners in all 3222 counties in America.

is given in the attachment.

Explanation:

7 0
3 years ago
Describe the current economy and labor market, including the types of goods and services produced, the types of skills workers n
kupik [55]
Ndjdjdj djdhsjs hsjdhdhshcvdjsjvdjsbdbxbjdjjj]gshdhsjshdhxhsowhbs sjsbjsjd Ghana f d g. So. S. X. S. F. F. G d c f f d de d d d. F. coc c. Coc. Coc. Coc. C coc. Coc c c f. C c c c c c c. C c c. C c. C. C c c c c. Chutiya hai tu
5 0
3 years ago
Customer World expects the credit card company to deposit funds in their business account for their sales where a customer uses
Murljashka [212]

Answer:

$88.75

Explanation:

Customer World expects the credit card company to deposit funds in their business account for their sales where a customer uses a credit card to pay. If Customer World earned $90 from a sale and the transaction fee was $1.25, the Customer World should expect $88.75 to be deposited into his business bank account by the credit card company.

I hope the answer is helpful.

Thanks for helping.

3 0
3 years ago
When workers are asked to participate in a research study, vulnerabilities related to the subject's employment may include:
ss7ja [257]

Answer:

e. All of the above

Explanation:

All options are possible certainly. The unions have the right to ask the employees to participate with the expectation that entitlement may follow from the study results. The study results are certainly going to ensure entitlement. Also, the employer might encourage or deny the participation of the workers as this is management work. It is on the employer that he allows or denies the employee from taking part in the meeting. Also, the employee might be pressurized by the management to take part in the study as the employer perceives the study are advantageous to the organization. This is a certainty as well, an employer might see profit in this. And the studies will affect the employee's pay, benefits as well as the promotion potential. The meeting is certainly going to increase employee's pay as well as provide him various benefits, and there are chances of promotion as well. Hence, all the options are correct.

5 0
3 years ago
Other questions:
  • Two years ago, Jason Jennings and Mary Scott each owned a small chain of bagel restaurants in Orange County, California. Just re
    12·1 answer
  • Access to lifesaving medicine is very limited in parts of Africa; as a result, over 10% of children do not reach the age of five
    7·1 answer
  • Angelica Canizales is the CEO of Mucho Dinero Enterprises. Sales have declined for four consecutive years and the firm's account
    6·1 answer
  • Danube Corp. purchased a used machine for $ 10 comma 000. The machine required installation costs of $ 4 comma 000 and insurance
    12·1 answer
  • ____ 16. a decrease in the price of domestically produced nuclear reactors will be reflected in
    13·1 answer
  • Columbus Company owns 25% of Zanesville Inc. and accounts for the investment using the equity method. During the year, Zanesvill
    9·1 answer
  • ​Hakimo Corp., a manufacturer of audio equipment, has developed a unique wireless speaker system that runs on solar power. The s
    15·1 answer
  • Exercise 9-16
    11·1 answer
  • This type of interest is the most desirable.
    7·1 answer
  • On December 21, 2020, Sage Company provided you with the following information regarding its equity investments. December 31, 20
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!