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Leona [35]
3 years ago
7

Brian wants to have $7000 in the bank in 10 years. He deposits $3000 today at 8% interest compounded semiannually,After keeping

the money in the bank for 10 years, how much more money will he need to add to his account to reach the desired balance of $7000?
Mathematics
1 answer:
Arte-miy333 [17]3 years ago
8 0

Answer:

He needs to add approximately $ 426.63 to his account to reach the desired balance of  $7000.

Step-by-step explanation:

Here, the principal amount, P = $ 3000,

Semiannual rate of interest, r = 8 %

Time, t = 10 years,

Hence, the amount after 10 years, which is compounded with the semiannual rate of 8% for 10 years,

Thus, the amount, need to add in the balance to reach the amount of $ 7000 = 7000 - 6573.3694291 = 426.6305709 ≈ $ 426.63

⇒ He needs to add approximately $ 426.63 to his account to reach the desired balance of  $7000

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If tim was 5 in 1990 and its 2020 how old is tim
avanturin [10]

Answer:

he's 35

Step-by-step explanation:

2020 - 1990 + 5 = 35

5 0
3 years ago
Read 2 more answers
A bag of baseballs cost 9.99 dollars and each bag contains 6 baseballs. if the baseballs were sold individually, how much would
user100 [1]

The price of each ball in a baseball bag would be 1.665 dollars

It is given that,

The cost price of a bag of baseball bag = 9.99 dollars

The number of balls in each bag = 6 baseballs

Now, we need to find the cost of one baseball if it were to sold individually

To find the cost of one quantity out of a bunch we divide the bunch price with the number of quantities in the bunch

Here, in this case

The cost price of each ball = \frac{Total cost of a baseball bag }{number of balls in each bag}

= \frac{9.99}{6}

= 1.665 dollars

Hence, the price of each ball in a baseball bag would be 1.665 dollars

To learn more about, cost price here,

brainly.com/question/11027396

#SPJ4

5 0
2 years ago
I need an answer to this
Ulleksa [173]

Answer:

x=3

Step-by-step explanation:

x+1*5=20

x*5=15

15/5=3

Hope this helps! :)

4 0
3 years ago
Crop researchers plant 15 plots with a new variety of corn. The yields in bushels per acre are: 138.0 139.1 113.0 132.5 140.7 10
son4ous [18]
There is a relationship between confidence interval and standard deviation:
\theta=\overline{x} \pm \frac{z\sigma}{\sqrt{n}}
Where \overline{x} is the mean, \sigma is standard deviation, and n is number of data points.
Every confidence interval has associated z value. This can be found online.
We need to find the standard deviation first: 
\sigma=\sqrt{\frac{\sum(x-\overline{x})^2}{n}
When we do all the calculations we find that:
\overline{x}=123.8\\ \sigma=11.84
Now we can find confidence intervals:
($90\%,z=1.645): \theta=123.8 \pm \frac{1.645\cdot 11.84}{\sqrt{15}}=123.8 \pm5.0\\($95\%,z=1.960): \theta=123.8 \pm \frac{1.960\cdot 11.84}{\sqrt{15}}=123.8 \pm 5.99\\ ($99\%,z=2.576): \theta=123.8 \pm \frac{2.576\cdot 11.84}{\sqrt{15}}=123.8 \pm 7.87\\
We can see that as confidence interval increases so does the error margin. Z values accociated with each confidence intreval also get bigger as confidence interval increases.
Here is the link to the spreadsheet with standard deviation calculation:
https://docs.google.com/spreadsheets/d/1pnsJIrM_lmQKAGRJvduiHzjg9mYvLgpsCqCoGYvR5Us/edit?usp=sharing
6 0
3 years ago
The following information is given for Tripp Company, which uses the indirect<br> method
oee [108]

Answer:

Step-by-step explanation:

1.

The cash flow from operating activities is = $28000.

Working Note:

Net Income                                                        $20000

Depreciation expense                                   $3000

Increase in accounts receivable                 ($2000)

Increase in accounts payable                      $4000

Decrease in inventory                                    $3000

Net Cash Flow from Operating Activities = 20000 + 3000 – 2000 + 4000 + 3000

Net Cash Flow from Operating Activities = $28000

2.

The cash flow from investing activities = $6000.

Working Note:

Proceeds from sale of equipment                            $6000

Net cash flow from investing activities =               $6000

3.

The cash flow from financing activities = - $2000              or ($2000)

Working Note:

Payment of dividends                                    ($2000)

Net Cash flow from financing activities = - $2000                or ($2000)

7 0
3 years ago
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