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
Leona [35]
2 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]2 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

You might be interested in
Which diagram shows parallel lines cut by a transversal?
Arada [10]
Only the third model shows parallel lines cut by a transversal. 

We can solve this problem by using some properties that parallel lines cut by a transversal have. First of all, corresponding angles are congruent, and since the angles in figure 1 are corresponding but not congruent, that means that figure one is out. 

In addition, in figure two, alternate exterior and interior angles of parallel lines intersected by a transversal are congruent, so since they are not in the picture, that means that this figure is also out. 

Figure three is correct because since those are same side interior angles, they need to be supplementary for those to be two parallel lines intersected by a transversal. Since they do, in fact, add up to 180°, that means that the answer is figure three. 
5 0
3 years ago
Read 2 more answers
A class has fewer than 30 students exactly 2/3of the student's in the class own a football exactly 7/8 of the students in the cl
skelet666 [1.2K]
This number would be 24. So 21 own football boots, 16 own a football and there are 24 children in the class.  not good at math so yeah
5 0
3 years ago
Indi bought a shirt for $30. He paid 7% sales tax. How much sales tax did Indie pay?​
ivann1987 [24]

<u>He paid $ 32.10 </u>

because

07 * 30 = <u>2.10 </u>

2.10 + 30 = <u>$ 32.10</u>

7 0
2 years ago
hugo sells handmade key chains online. Yesterday he made 6 keychains in 30minutes. hugo wants to make 9 keychains today . if hug
Art [367]

Answer:

45 minutes, hope this helps

Step-by-step explanation:

8 0
3 years ago
Read 2 more answers
Mr.Steve drove 92 miles using 4 gallons of gasoline. Find the unit rate of miles driven per gallon.
Ede4ka [16]

Answer:23


Step-by-step explanation:

92/4

7 0
2 years ago
Other questions:
  • 1+1=2+8=13 it is 13 have a good day
    11·2 answers
  • Can anyone who has the time help me with this question please??
    9·1 answer
  • What's 2/3×2/3 please explain
    9·2 answers
  • Math help mee plzzzzzz
    7·1 answer
  • They are not related
    6·1 answer
  • The sentence "Nine is more than a number" can be represented by the inequality 9 ≥ n . true or false
    14·2 answers
  • NOT RIGHT, PLEASE TRY AGAIN
    11·1 answer
  • Suppose the population of a species is modeled by a periodic function. The length of time between successive
    6·1 answer
  • If the ratio of girls to boys is 2/5 , then what other ratio is equivalent?
    5·1 answer
  • The vertices of triangle DEF are D(12, -8), E(-4, -8), and F(-4, 16). The triangle is dilated with a scale factor of 1/4. Estima
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!