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3 years ago

Find the balance in the account. $800 principal earning 7%, compounded annually, after 4 years

1 answer:

5 0

Formula for amount, A, in Compound Interest:

A = P(1 + r)ⁿ

Where P = Principal = $800, r = rate per year = 7% = 0.07, n = number of years = 4

A = P(1 + r)ⁿ

A = 800(1 + 0.07)⁴

A = 800(1.07)⁴ Use your calculator

A ≈ 1048.6368

A ≈ $1048.64

I hope this helped.

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3 years ago

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Diano4ka-milaya [45]

Answer:

The answer is below

Step-by-step explanation:

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$P(t)=ae^{rt}\\\\where\ t\ is\ the\ number\ of \ hours, P(t)\ is\ the \ population\ at\ t\ hours\\\and\ a=population\ at\ start$

At 2 hours, the population is 62 cells, hence:

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After another 2 hours (4 hours), the population is 1 million:

$P(4)=ae^{4r}\\\\1000000=ae^{4r}\ \ .\ \ .\ \ .\ (2)\\\\Divide \ equation\ 2\ by\ equation\ 1:\\\\\frac{1000000}{62}=\frac{ae^{4r}}{ae^{2r}} \\\\16129=e^{2r}\\\\ln(e^{2r})=ln(16129)\\\\2r=9.688\\\\r=4.844$

Put r = 4.844 in equation 1

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$P(t)=0.003844e^{4.844t}\\\\at \ start,t=0\\\\P(0)=0.003844$

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3 years ago