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Veseljchak [2.6K]

2 years ago

12

An account is opened with an initial deposit of $100 and earns 3.0% interest compounded monthly. What will the account be worth

in 25 years? Round your answer to the nearest dollar.

1 answer:

Roman55 [17]2 years ago

5 0

Answer:

$175 dollars

Step-by-step explanation:

3% of 100 is 3

3*25 =75

100+75=175

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I NEED to know the answer and steps to figure out, Mark wants to paint a mural. He has 1 1/3 gallons of yellow paint, 1 1/4 gall

emmasim [6.3K]

Well, Mark has

1 1/3 of yellow paint

1 1/4 of green paint and

7/8 of blue paint

now, bear in mind, the yellow is a bucket and 1/3 more, the green one is one bucket and 1/4 more and the blue is 7/8 which is almost 8/8, so is almost a bucketfull.

Then he's going to use 3/4 of each, so, we'd have to subtract 3/4 from each, and there'll be some left still in the paint bucket.

How many will he have left altogether? well, we simply add the leftovers.

$\bf 1\frac{1}{3}\implies \cfrac{1\cdot 3+1}{3}\implies \cfrac{4}{3}
\\\\\\
\cfrac{4}{3}-\stackrel{\downarrow }{\cfrac{3}{4}}\implies \cfrac{16-9}{12}\implies \boxed{\cfrac{7}{12}}\\\\
-------------------------------\\\\
1\frac{1}{4}\implies \cfrac{1\cdot 4+1}{4}\implies \cfrac{5}{4}
\\\\\\
\cfrac{5}{4}-\stackrel{\downarrow }{\cfrac{3}{4}}\implies \cfrac{5-3}{4}\implies \cfrac{2}{4}\implies \boxed{\cfrac{1}{2}}\\\\
-------------------------------\\\\$

$\bf \cfrac{7}{8}-\stackrel{\downarrow }{\cfrac{3}{4}}\implies \cfrac{7-6
}{8}\implies \boxed{\cfrac{1}{8}}\\\\
-------------------------------\\\\
\textit{so the leftovers are }\cfrac{7}{12}+\cfrac{1}{2}+\cfrac{1}{8}\implies \cfrac{14+12+3}{24}\implies \cfrac{29}{24}\implies 1\frac{5}{24}$

6 0

2 years ago

if the slope of a line through the origin and (-2, b) is 2, and the line through (b, -2) and (a, 5) is parallel to that line, wh

ICE Princess25 [194]

$22 \times 22. \times 9 = 6$
$6 \div 2 \div 5 \times + 5$

6 0

3 years ago

Cristiana uses $25,000 to purchase a 25 month CD (certificate of deposit) that pays 2.47% compounded monthly.

Andre45 [30]

25000×.0247=617.5

617.5×25=15,437.5

25,000+15,437.5=40,437.5

her investment was worth 40,437.5
she earned 15,437.5

5 0

3 years ago

A company will need 1.8 million 5 years from now to replace some equipment. Currently, the firm has some extra cash and would li

Nezavi [6.7K]

Given:

a.) A company will need 1.8 million 5 years from now to replace some equipment.

b.) The account pays 5.25 percent interest, compounded annually.

We will be applying the Compounded Interest Formula:

$\text{ A = P\lparen1 + }\frac{r}{n})^{nt}$

Where,

A=final amount

P=initial principal balance/money to initially deposit

r=interest rate (decimal)

n=number of times interest applied per time period

t=number of time periods elapsed (in years)

In this scenario, we are asked what is the amount of principal balance/initial deposit to make to get 1.8 million in 5 years.

Annually = n = 1

We get,

$\text{ 1,800,000 = P\lparen1 + }\frac{\frac{5.25}{100}}{1})^{(1)(5)}$ $1,800,000\text{ = P \lparen1 + 0.0525\rparen}^5\text{ = P \lparen1.0525\rparen}^5$ $\text{ P = }\frac{1,800,000}{(1.0525)^5}$ $\text{ P = 1,393,676.5175887556 }\approx\text{ 1,393,676.52}$

Therefore, the answer is 1,393,676.52

5 0

10 months ago

Explain how to use absolute value to add -8 + 12

KIM [24]

Answer:

-8+12=4 is the correct answer

Thank you

6 0

2 years ago

Read 2 more answers