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dezoksy [38]
3 years ago
14

What is 2% of $8936 compounded quarterly?

Mathematics
1 answer:
Aleks04 [339]3 years ago
5 0
The answer I got is 178.72. U divided $8,936 by 2%
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Bill works for the Stuff It Mailing Service. He receives 25 cents for each document he puts together and prepares for
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Answer:

(a)Bill's Total piecework pay =$500

(b)Amount owed by his boss=$26

Step-by-step explanation:

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Artyom0805 [142]

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3 years ago
A person invest $1200 in an account that earns 2% interest compound quarterly. Find when the value of the investment reaches $15
Basile [38]

Answer:

After 11 years the value of the investment reaches $1500.00

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Step-by-step explanation:

The formula used for finding time (when the value reaches certain amount) is:

A= P(1+\frac{r}{n})^{nt}

where A= Future VAlue

P= Principal Value

r= rate of interest (in decimal)

n= no of times investment is compounded

t= time

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A= $1500

P= $1200

r= 2% or 0.02

n= 4 (compound quarterly)

A= P(1+\frac{r}{n})^{nt}

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1.25= (1+0.005)^{4t}

1.25= (1.005)^{4t}

Since t is in power we take the logarithm ln on both sides.

The rule of logarithm says that the exponent can be multiplied with the base when taking log

\ln1.25=ln( 1.005)^{4t}\\\ln1.25=4t * ln( 1.005)\\0.22 = 4t * 0.005\\Solving\,\,\\\frac{0.22}{4*0.005} = t\\=> t= 11\, years

8 0
3 years ago
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