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Radda [10]
3 years ago
10

Carmen needs $3560 for future project. She can invest $2000 now at annual rate of 7.8%, compound monthly. Assuming that no withd

rawals are made, how long will it take for her to have enough money for her project?
Mathematics
2 answers:
dedylja [7]3 years ago
6 0

Answer:

  7.42 years (7 years 5 months)

Step-by-step explanation:

The future value of Carmen's account can be modeled by

  FV = P(1 +r/12)^(12t)

where P is the principal invested, r is the annual rate, and t is the number of years.

Solving for t, we have ...

  FV/P = (1 +r/12)^(12t)

  log(FV/P) = 12t·log(1 +r/12)

  t = log(FV/P)/(12·log(1 +r/12))

For FV = 3560, P=2000, r = 0.078, the time required is ...

  t = log(3560/2000)/(12·log(1 +.078/12))

  t ≈ 7.42

It will take Carmen about 7 years 5 months to reach her savings goal.

Archy [21]3 years ago
6 0
I’m not sure I think it’s 10
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Ksivusya [100]

Alex finally had $(x+110) amount of money in his account i.e. He had $100 more then before!

<u>Step-by-step explanation:</u>

Alex wrote checks on Tuesday for $30 and $40. He also made a deposit in his checking account of $180. Let's solve it step by step :

<u>Alex wrote checks on Tuesday for $30 and $40:</u>

Let's suppose Alex initially had x amount of money out of which $30 & $40 is deducted! so left amount of money is $(x-70) .

<u>He also made a deposit in his checking account of $180:</u>

Out of left money $(x-70) , Alex deposited $180 in account so new money = $(x-70) + $180 = $(x+110)

Therefore, Alex finally had $(x+110) amount of money in his account i.e. He had $100 more then before!

6 0
3 years ago
Helaine graphed the equation 12 x -4y=3
koban [17]

Answer:-0.0625

Step-by-step explanation:

6 0
3 years ago
What is 5r^2 = 80<br><br> It says solve each equation with the quadratic formula.
katovenus [111]
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5 0
3 years ago
Tina, Sijil, Kia, vinayash Alisha and shifa are playing game by forming two teams. Three players in each team how many different
IgorC [24]

Answer:

20

Step-by-step explanation:

GIVEN: Tina, Sijil, Kia, vinayash Alisha and shifa are playing game by forming two teams Three players in each team.

TO FIND: how many different ways can they be put into two teams of three players.

SOLUTION:

Total number of players =6

total teams to be formed =2

total players in one team =3

we have to number of ways of selecting 3 players for one team, rest 3 will go in other team.

Total number of ways of selecting 3 players =^6C_3

                                                                      =\frac{6!}{3!3!}

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Hence total number of different ways in which they can be put into two different teams is 6

5 0
3 years ago
What is the mean of the measures of the three exterior angles of a triangle if two of the interior angles have measures of 63 an
Genrish500 [490]

Answer:

  1. Mean score=120

Step-by-step explanation:

  1. Areas of a triangle add upto 180degrees (63+78+x=180) 141+x= (x=180-141) x=39
  2. Areas on a straight line add upto 180degrees

180-78=102

180-63=117

180-39=141

  1. 102+117+141=360
  2. Mean=360/3 =120

4 0
3 years ago
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