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nydimaria [60]
3 years ago
6

Jill invested $20,000 in an account that earned 5.5% annual interest, compounded annually. What is the value of this account aft

er 10 years?
Mathematics
1 answer:
noname [10]3 years ago
7 0

The value of this account in 10 years is given by the formula:

FV = P*(1+r)^t

where FV is the future value in the account after 10 years(to be calculated)

P is the principal invested at the beginning

r is the interest rate and

t is the time horizon in years

Given, Invested Amount (P) = 20,000

Interest rate (r) = 5.5% = 0.055

Time horizon (t) = 10 years = 10

Substituting the formula, FV = 20,000*(1+0.055)^10 = 20,000*1.055^10 = 20,000*1.708144458 =  34,162.89

The value of this account after 10 years =$34,162.89 (Rounded to the nearest cent)

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How long will it take $5500 to grow to $7400 at an interest rate of 5% it the interest is compounded continuouslyRound the numbe
Thepotemich [5.8K]

Answer:

 5.93 years

Step-by-step explanation:

The continuous compounding formula tells you the amount after t years will be ...

  A = Pe^(rt) . . . . principal P compounded continuously at annual rate r for t years

  7400 = 5500e^(0.05t)

  ln(7400/5500) = 0.05t . . . . divide by 5500, take natural logs

  t = 20×ln(74/55) ≈ 5.93

It will take about 5.93 years for $5500 to grow to $7400.

8 0
3 years ago
PLEASE HELP ASAP!!!!!!
Katena32 [7]
1. - Since a cube is all the same lengths on all sides you would want to find the area of one of the sides. You would do this by multiplying 3.8 by 3.8.
3.8*3.8=14.44
Since you have six faces on a cube you want to multiply this by 6.
14.44*6=86.64
So your answer for 1. is 86.64 in^2 of glass

3. Same thing as number one. Find the face of one side:
1 1/3*1 1/3 is about 1.7777
Multiply this by the six faces. 
1.7777*6 is about 10.66666
So your answer for 3. is about 10.666 (repeating) in^2

4. For this one, you want to follow the surface area formula for a cylinder. Which is - A=2πrh+2πr^2
When you put all your numbers in it would look like this: 
2*3.14*2*22+2*3.14*2^2
Once you do that equation you will get 301.44
So that should be your answer 301.44 cm^2

Hope this helps!
8 0
3 years ago
Is 2.9 grater than 2.90
Alenkasestr [34]

Answer:

i think they're equal?

Step-by-step explanation:

6 0
3 years ago
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Can someone help me solve these two problems? i need to find what x is.
Bond [772]

Answer:

1. x=2

2. x= 0.33

Step-by-step explanation:

1.So to start off you have a coefficient for 2 so you have to find what 2 to the power of 2 is =4 so then you have your new problem 4x+5=13 next you need to get 4x by itself so

-5 -5

then you have 4x=8. you divide by 4 on both sides

4. 4

so then you get x=2

2.So same here find what 3 to the power of 2 is =9

New equation 4x-1=9x+4x-4. Then combine like terms on the right you cant do it on the left because that is a separate part and those dont merge like terms so

9x+4x = 13x

new equation. 4x-1=13x-4

next subtract 4x on both sides

13x-4x=9x

new equation. -1=9x-4

next add 4 to both sides

-1+4= 3

new equation. 3=9x

so then divide 9 on both sides

3÷9= 0.33

x= 0.33

Hope this made sense and helps

7 0
3 years ago
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The transformation from ABC to A'B'C' is a reflection over y axis then a translation 10 units right.

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