1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Aleonysh [2.5K]
3 years ago
5

$7000 is compounded semiannually at a rate of 11% for 21years Find the total amount and round to the nearest cent

Mathematics
1 answer:
photoshop1234 [79]3 years ago
7 0

\text{Given that }\$7000 \text{ is compounded semiannualy at a rate of }11\% \text{ for 21 years}\\
\\
\text{we know that the amount after t year when compounded is given by}\\
\\
A=P\left ( 1+\frac{r}{n} \right )^{nt}\\
\\
\text{here P is the principal amoount, so }P=7000,\\
\\
\text{r is the interest rate, }r=11\%=0.11\\
\\
\text{n is the number of times in a year, here semiannulay, so }n=2,\\
\\
\text{and t is the time, so }t=21\\
\\
\text{so the amount after 21 years is}

A=7000\left ( 1+\frac{0.11}{2} \right )^{2(21)}\\
\\
\Rightarrow A=7000\left ( 1+0.055 \right )^{42}\\
\\
\Rightarrow A=7000\left ( 1.055 \right )^{42}\\
\\
\Rightarrow A\approx 66328.68

So the amount after 21 years is: $66328.68

You might be interested in
How is the graph of y=7x^2+4 different from the graph of y=7x^2
Hoochie [10]
1, it is shifted 4 units up
6 0
3 years ago
You move right 1 unit and left 3 units. you end at (-4,0). where did u start?
konstantin123 [22]

Answer:

(2,-4)

Step-by-step explanation:

you see (-4,0), then you do the opposite of what it says like it says right 1 unit. then you g left 1 unit. then it says left 3 units. so you go right 3, which results you starting at (2.-4)

5 0
3 years ago
Read 2 more answers
a jug of orange juice is made by mixing 21 juice with 51 how many litres of water will be needed for 61 of juice?​
Fofino [41]
Im just tryna get points
8 0
3 years ago
A ball is thrown up into the air from a building modeled by the equation:
Arlecino [84]

Answer:

After two seconds

h(2) = -16(2^2) + 115(2) + 19

h(2) = -64 + 115(2) +19

h(2) = 185

Let me know if this helps!

3 0
3 years ago
Please help me ! thank you
Tpy6a [65]

1/2^-2 Can be written as 2^2

Therefore , 2×2=4

4 0
3 years ago
Other questions:
  • $750 are deposited into an account quarterly for six years at an interest rate of 5.3% compound quarterly. how much is in the ac
    8·1 answer
  • You plan on purchasing a car in the next year. The car that you are interested in lists for $23,000 after taxes, license, and do
    7·1 answer
  • Which of the following has a slope of negative 2 in the y-intercept of 4? A) y= -2x-4
    5·1 answer
  • What is the volume of a fish trap that mesures 1/4- meter by 2/3-meter by 3/5 meter. What is the volume in cubic meters
    8·1 answer
  • Molly's Milk Company wants to repaint the barrels in which the milk is stored. The workers need to know how much area they will
    10·1 answer
  • What are the factors of the square root of 329
    9·2 answers
  • PLZ HELP ASAP I'LL GIVE BRAINLY sketch the solution set to the system of inequalities shown below
    12·1 answer
  • What is the distance between the points E and F​
    7·1 answer
  • What is the area of the triangle?<br> umi<br> bosi<br> 4<br> par<br> 2<br> con<br> units
    9·2 answers
  • Can like someone help me with O.o.O (order of operations)
    5·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!