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
natita [175]
4 years ago
7

Nazerhy deposits $8,000 in a certificate of deposit. The annual interest rate is 6%, and the interest will be compounded monthly

. How much will the certificate be worth in 10 years?
Round your answer to the nearest cent.
Do NOT round until you calculate the final answer
Mathematics
1 answer:
Likurg_2 [28]4 years ago
4 0

Answer:

A=\$14,555.17

Step-by-step explanation:

we know that    

The compound interest formula is equal to  

A=P(1+\frac{r}{n})^{nt}  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal

t is Number of Time Periods  

n is the number of times interest is compounded per year

in this problem we have  

t=10\ years\\ P=\$8,000\\ r=6\%=6/100=0.06\\n=12  

substitute in the formula above

A=8,000(1+\frac{0.06}{12})^{12*10}  

A=8,000(1.005)^{120}  

A=\$14,555.17

You might be interested in
(URGENT, IN THE MIDDLE OF A QUIZ!)<br> (Math)
Sauron [17]

Answer: D

Step-by-step explanation:

The pythagorean theorem shows that a^{2} +b^2= c^2.

This shows that the two shaded squares are equal, so D is incorrect.

5 0
3 years ago
Find Each Sum.<br> (–4c2 + 7cd + 8d) + (–3d + 8c2 + 4cd) =
tia_tia [17]
To add monomials, you have to look at the variables that are accompanied by their coefficients. In the given problem, (–4c2 + 7cd + 8d) + (–3d + 8c2 + 4cd), you can combine both cd ut nt cd and c² and cd and d and d and c² because they have different variables.

<span>(–4c2 + 7cd + 8d) + (–3d + 8c2 + 4cd) 
(-4c</span>² + 8c²) + (7cd + 4cd) + (8d - 3d)
4c² + 11cd + 5d
6 0
3 years ago
‼️‼️‼️‼️‼️ is two correct? Also what’s number 3?‼️‼️‼️‼️
LenaWriter [7]

Answer:

C) P AND E

Step-by-step explanation:

4 0
3 years ago
Read 2 more answers
American Indian resistance in the Ohio River Valley ended with
zmey [24]

Answer:

American settlers and American Indians often clashed as settlement spread across the West during that era.

Step-by-step explanation:

American Indian resistance in the Ohio River Valley ended with.

5 0
3 years ago
Read 2 more answers
2. When a large truckload of mangoes arrives at a packing plant, a random sample of 150 is selected and examined for
kirza4 [7]

a) The 90% confidence interval of the percentage of all mangoes on the truck that fail to meet the standards is: (7.55%, 12.45%).

b) The margin of error is: 2.45%.

c) The 90% confidence is the level of confidence that the true population percentage is in the interval.

d) The needed sample size is: 271.

<h3>What is a confidence interval of proportions?</h3>

A confidence interval of proportions has the bounds given by the rule presented as follows:

\pi \pm z\sqrt{\frac{\pi(1-\pi)}{n}}

The margin of error is given by:

M = z\sqrt{\frac{\pi(1-\pi)}{n}}

The variables are listed as follows:

  • \pi is the sample proportion, which is also the estimate of the parameter.
  • z is the critical value.
  • n is the sample size.

The confidence level is of 90%, hence the critical value z is the value of Z that has a p-value of \frac{1+0.90}{2} = 0.95, so the critical value is z = 1.645.

The sample size and the estimate are given as follows:

n = 150, \pi = \frac{15}{150} = 0.1

The margin of error is of:

M = z\sqrt{\frac{0.1(0.9)}{150}} = 0.0245 = 2.45\%

The interval is given by the estimate plus/minus the margin of error, hence:

  • The lower bound is: 10 - 2.45 = 7.55%.
  • The upper bound is: 10 + 2.45 = 12.45%.

For a margin of error of 3% = 0.03, the needed sample size is obtained as follows:

M = z\sqrt{\frac{\pi(1-\pi)}{n}}

0.03 = 1.645\sqrt{\frac{0.1(0.9)}{n}}

0.03\sqrt{n} = 1.645\sqrt{0.1(0.9)}

\sqrt{n} = \frac{1.645\sqrt{0.1(0.9)}}{0.03}

(\sqrt{n}})^2 = \left(\frac{1.645\sqrt{0.1(0.9)}}{0.03}\right)^2

n = 271 (rounded up).

More can be learned about the z-distribution at brainly.com/question/25890103

#SPJ1

3 0
1 year ago
Other questions:
  • An isosceles triangle has angle measures 55°, 55°, and 70°. The side across from the 80° angle is 10 inches long. How long are t
    12·2 answers
  • Only serious people abswer
    10·2 answers
  • 8 ( j - 4 ) = 2(4j - 16 )
    12·2 answers
  • If T(n) = 6n - 1 what is the 1st term
    5·1 answer
  • Write each 37412 correct to 3 significant figures
    13·1 answer
  • Shane returned from a trip to Las Vegas with $420 , which was75% more money than he had at the beginning of the trip. How much m
    12·1 answer
  • What is the range of the function?
    5·2 answers
  • Find the domain, range and if it’s a function.
    15·1 answer
  • Blank-2y=-28 answer for blank
    15·1 answer
  • A karate studio charges $35 for the first course and $22. 50 for each course after that, even if the student leaves the course e
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!