Answer:
It will take 4.84 years
Step-by-step explanation:
The initial amount that Matt invested was $1669. It means that principal is
P = 1669
It was compounded 12 times per year. So
n = 12
The rate at which the principal was compounded is 2%. So
r = 2/100 = 0.02
The formula for compound interest is
A = P(1+r/n)^nt
A = total amount in the account at the end of t years.
A = 1,844.38
Therefore
1,844.38 = 1669(1+0.02/12)^(12×t)
1,844.38/1669 = (1.0017)^(12t)
1.1051 = (1.0017)^(12t)
Taking log to base 10 of both sides, it becomes
Log 1.1051 = log 1.0017^(12t)
Log 1.1051 = 12tlog 1.0017
0.043 = 0.00074 × 12t
0.043 = 0.00888t
t = 0.043/0.00888
t = 4.84 years
Answer:what do u need help with?
Step-by-step explanation:
Answer:
14, 20, 60
Step-by-step explanation:
Please let me know if you want me to add an explanation as to why this is the answer/how I got this answer. I can definitely do that, I just wouldn’t want to write it if you don’t want me to :)
Answer:
The net worth does not change.
Step-by-step explanation:
Net worth is the sum of all of your assets minus the liabilities.
If you start off with 2,500 in your savings account, then you use the money to buy a car the net worth does not change. You started with a net worth of 2,500 because money in your savings account in considered an asset. You then use that money to buy a car which is an asset, and the car contributes to your net worth.
Answer:
x | -7 -5 -3
y | -21 -15 -9
Step-by-step explanation:
y = 3x
If x = -7 then y = 3 × (-7) = -21
x = -5 then y = 3 × (-5) = -15
x = -3 then y = 3 × (-3) = -9