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
labwork [276]
3 years ago
7

Sung Lee invests $4,000 at age 18. He hopes the investment will be worth $16,000 when he turns 25. If the interest compounds con

tinuously, approximately what rate of growth will he need to achieve his goal? Round to the nearest tenth of a percent.
Mathematics
1 answer:
irinina [24]3 years ago
4 0

Answer:

The growth rate he needs to achieve his goal is approximatelly 19.8%

Step-by-step explanation:

Since the sum will be compounded continuously we have to use the appropriate formula given below:

M = C*e^(r*t)

Where "M" is the final amount, C is the initial amount, r is the interest rate and t is the time elapsed. Since Sung Lee will invest that sum at 18 years old and he wants to recieve the return at 25, then the time elapsed is given by 25 -18 = 7 years. We can now apply the data to the formula:

16000 = 4000*e^(r*7)

4000*e^(7*r) = 16000

e^(7*r) = 16000/4000 = 4

ln[e^(7*r)] = ln(4)

7*r = ln(4)

r = ln(4)/7 = 0.198

The rate of interest is given by (r)*100%, so we have (0.198)*100% = 19.8%.

You might be interested in
ANSWER>> DETERMINE THE RANGE OF THE FUNCTION.
olga2289 [7]

Answer:

D

Step-by-step explanation:

When the function or the coefficient in this case 1/4x^2 is positive it means it's opening up like a u, meaning all the values will be bigger than the C term or -5 in this case.

6 0
3 years ago
Read 2 more answers
The population of a community, p(x), is modeled by this exponential function, where x represents the number of years since the p
NeX [460]

An exponential model is used to represent growth of a population

The population after 3 years is 2585

The function is given as:

\mathbf{P(x) = 2400(1.025)^x}

<em>3 years after</em>, means that x = 3

So, we have:

\mathbf{P(3) = 2400(1.025)^3}

Evaluate exponents

\mathbf{P(3) = 2400 \times 1.076890625}

\mathbf{P(3) = 2584.5375}

Approximate

\mathbf{P(3) = 2585}

Hence, the population after 3 years is 2585

Read more about population growth at:

brainly.com/question/3160736

5 0
3 years ago
8/x=14/7 what does x equal
Veronika [31]

Answer:

when you have two fractions that equal each other you want to solve by using cross multiply

What cross multiply is, is when you multiply diagonally so:

8/x=14/7

you would take 14*x and 8*7

14x=56 (you would then divide each side by 14)

x=4 (14/14=1, 56/14=4)

8/4=14/7

To check your work you could simplify

8/4=2

14/7=2

2=2, which is true

x=4

Hope this helps ;)

6 0
3 years ago
Faye can sort 150 recyclable items in 3 minutes.How many recyclable items can Faye sort in 4 minutes?
Leya [2.2K]

Answer:

200

Step-by-step explanation:

150/3=50 so she sorts 50 items per minute, then 50*4=200


5 0
3 years ago
Read 2 more answers
The expanded form of x0 is what
Anestetic [448]

Answer:

Can't really expand x and 0, so I guess it would just be x * 0

Step-by-step explanation:

explained above :)

4 0
2 years ago
Other questions:
  • Maria is using the random number table shown to select students for her survey. She assigned each of the 300 students in the sch
    9·1 answer
  • Raphael is traveling in a straight line at a constant speed from point A to point B. His distance from point B in miles is -20t+
    11·1 answer
  • Keenan wants to make a paperweight at pottery class. He designs a pyramid-like model with a base area of 808080 square centimete
    13·2 answers
  • 4. An initial population of 825 quail increases at an
    7·1 answer
  • 3x - 2a + 7a solve for x
    14·2 answers
  • PLEASE HELP DO NOT WASTE ANSWERS URGENT WILL MARK BRAINLIEST
    10·1 answer
  • At the market, a pear costs b cents and an apple costs 7 cents
    15·1 answer
  • Write and solve an inequality for the following. As a salesperson you are paid $75 a week plus $3 per sale. This week you want t
    8·1 answer
  • What is the experimental probability of rolling a number greater than four?
    5·1 answer
  • What is the slope of the line?
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!