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sdas [7]
3 years ago
9

3. A savings account is started with an initial deposit of $500. The account earns 1.5% interest compounded annually.(a) Write a

n equation to represent the amount of money in the account as a function of time in years.(b) Find the amount of time it takes for the account balance to reach $900. Show your work.
Mathematics
1 answer:
Olin [163]3 years ago
3 0

Answer:

$900 = $500 * 0.015 * B

Step-by-step explanation:

Intrest = Principal * Rate * time

Total Amount= Principal + Intrest

B = years

$500 = Principal

1.5% = Rate (0.015)

$900= Total amount

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Did I do the first question right? can anyone please help me with the 2nd question? Would really appreciate the Help​
IgorC [24]

Answer:

  8.  1483.33

  9.  21 months

Step-by-step explanation:

8. Morgan's income after taxes is 55000/12 = 4583.33 per month. The amount  available after expenses is 4583.33 -3100.00 = 1483.33 per month.

Morgan is able to put $1483.33 per month into savings.

__

9. If Morgan is able to save $1483.33 per month, it will take her ...

  $30,000/$1483.33 ≈ 20.2

months to save $30,000. After 20 months, she won't have quite enough, so it will take her one more month to save the desired amount.

It will take Morgan about 21 months to save $30,000.

_

If you like, you can write an equation for "m", the number of months it will take Morgan to save 30,000:

  1483.33×m = 30,000

  m = 30,000/1483.33 ≈ 20.2 . . . . . . divide by the coefficient of m

7 0
3 years ago
Ingrid deposit $10,000 in an IRA what will be the value of her investment six years if the investment earning 3.2% per year and
enyata [817]

Answer:

  • $12116.71

Step-by-step explanation:

Given

  • Deposit = $10000
  • Interest rate = 3.2% PA
  • Interest type = compound
  • Frequency = continuous
  • Time = 6 years

Calculation

  • Total = 10000*e^(rt) = 10000*e^(0.032*6) = $12116.71
7 0
3 years ago
Write an equation of the line below.
Bogdan [553]

Answer:

y= 3/5x

Step-by-step explanation:

7 0
3 years ago
Read 2 more answers
There are 40 people at Drake's sweet sixteen party. Drake's only rule is that everyone in the party must meet and shake each oth
nikdorinn [45]
1) This is a combination, so use ⁴⁰C₂.
     ⁴⁰C₂ = 780
     There are 780 handshakes in total.

2) I got my solution by using the combinations formula. Or another way you              could do this is to add up... 39 + 38 + 37 + 36 + 35 + 34 + 33 + 32 + 31... +1.          You will end up with 780 (I did this to double check my work).

3) The quickest way to figure this out if Drake invited 1,000 people is to use the       natural numbers formula = n(n+ 1)/2.
     Plug the numbers in: 999(1000)/2 = 499,500 
     If Drake invited 1,000 people, there would be 499,500 handshakes.

7 0
3 years ago
Read 2 more answers
You estimate that a baby pig weighs 21 lbs but it weighs 28 lbs what is the percent of error
lbvjy [14]
Your estimate of the baby pig's weight is 2 pounds. However the actual weight of it is only 16 pounds.
Let's solve for the percentage error of this.
=> 20 - 16 = 4 pounds
=> 4 / 16 = 0.25
=> 0.25 * 100% = 25%
Thus, you added 25% of the baby pig's weight
3 0
3 years ago
Read 2 more answers
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