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
san4es73 [151]
3 years ago
9

Pedro Pascal wants to have $15,000 in an account after five years. He found a bank that will offer him a 7.5% interest rate, com

pounded quarterly. How much does he need to put in the account today?
Mathematics
1 answer:
Juli2301 [7.4K]3 years ago
6 0

<u>Answer-</u>

He needs to put $10345 in the account today, in order to get 15000 in five years.

<u>Solution-</u>

We know that,

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

Where,

A = future value of the investment with interest  = 15000

P = principal investment amount

r = annual interest rate (decimal)  = 7.5% = 0.075

n = number of times that interest is compounded per year  = 4

t = the number of years the money is invested = 5

Putting the values,

15000=P(1+\frac{0.075}{4})^{4 \times 5}

\Rightarrow P=\frac{15000}{(1+0.01875)^{20}} =\frac{15000}{1.01875^{20}} =\frac{15000}{1.45} =10344.8 \approx 10345

You might be interested in
I need help with these questions if you might not know and answer then somebody else can help thank u
Jlenok [28]
Sorry, I dunno.... ;)
4 0
3 years ago
Simplify the expression3х + 8 + 13x =
leva [86]

Answer:

8(2x+1)

Step-by-step explanation:

First we add

16x + 8

Next take GCF

8(2x+1)

6 0
3 years ago
Add, subtract, multiply, or divide the following fractions. Remember to find the LCD first.
Nat2105 [25]

lcd 210

1/5=42/210

1/7=30/310

3/21=30/210

42+30+30=102/210

reduced 51/105

4 0
3 years ago
AARP reported on a study conducted to learn how long it takes individuals to prepare their federal income tax return (AARP Bulle
Crank

Answer:

Confidence interval: (30.1,36.9)

Step-by-step explanation:

We are given the following data set:

35.3,30.5,37.4,26.5,13.0,49.9,28.8,44.0,61.6,0.5,40.5,34.9,47.9,36.6,24.1,39.8,47.8,18.5,36.6,39.2,14.5,37.3,40.5,49.3,45.5,28.3,19.5,5.6,52.6,41.4,45.3,39.0,33.7,29.4,14.5,40.1,33.7,36.9,5.6,33.7

Formula:

\text{Standard Deviation} = \sqrt{\displaystyle\frac{\sum (x_i -\bar{x})^2}{n-1}}  

where x_i are data points, \bar{x} is the mean and n is the number of observations.  

Mean = \displaystyle\frac{\text{Sum of all observations}}{\text{Total number of observation}}

Mean =\displaystyle\frac{1339.9}{40} = 33.5

S.D = 11(given)

n = 40

Confidence interval:

\mu \pm z_{critical}\frac{\sigma}{\sqrt{n}}

Putting the values, we get,

z_{critical}\text{ at}~\alpha_{0.05} = 1.96

33.5 \pm 1.96(\frac{11}{\sqrt{40}} ) = 6.34 \pm 3.4 = (30.1,36.9)

6 0
3 years ago
5*10 divided by 30 -10
sp2606 [1]
The answer to your question would be -25/3

As decimal -8.333333
4 0
2 years ago
Other questions:
  • How to write 54 hundredths
    14·1 answer
  • (-2,22) write the equation in point slope form. Y-y1=m (X-X1)
    14·1 answer
  • If the cos 42° = one half, then the sin 48° = _____.
    13·1 answer
  • The diameter of a sphere is 8 cm. Which could be a possible length for the radius of a cross section of the sphere? Check all th
    8·2 answers
  • I'm not really good at clearing fractions I need help with this problem please!
    5·1 answer
  • Kailee and Leanne are working on their math homework. There is a question that says –2 &lt; –4. Kailee says that that is a true
    10·1 answer
  • ....................
    11·2 answers
  • What is answer least to greatest?
    6·1 answer
  • Vienna bought 8 yards of fabric and paid $35.60. How many more
    9·1 answer
  • A b c or d? pls help out thx
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!