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geniusboy [140]
3 years ago
13

Matt invests $1,669 in a saving account with a fixed annual interest rate of 2% compounded 12 times per year. How long will it t

ake for the account balance to reach 1,844.38?
Mathematics
1 answer:
vesna_86 [32]3 years ago
6 0

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

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Answer:

x = 4

Step-by-step explanation:

We can use cross products to solve

84/12 = 28/x

84 * x = 12 *28

Divide each side by 84

84x/84 = 12*28/84

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If 18 is added to a certain number and the sum is divided by 6, the result is 1 more than 14 of the original number. Find the or
Katyanochek1 [597]
The original number is 72 


(18+x)/6 = 1+14 
1/6x + 3 = 1 + 14 (Distribute)
1/6x + 3 = (1+14) (Combine Like Terms)
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brilliants [131]

A.

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B.

Since per share you get $0.8, for 100 shares you will get 0.8*100=80 dollars.

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ANSWER:

A. $0.8 per share

B. $80 (and that is 0.2% of total dividend)

7 0
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Answer:

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m is all real number since we have the or

Step-by-step explanation:

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