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
Krutika is 11 years older than Gordon. Pip is 12 years younger than Gordon. If the total of their ages is 77, how old is the you
Vesnalui [34]
77 I hope it’s correct
7 0
2 years ago
How do you write 4/6 as a unit fraction
lawyer [7]

Answer:

1/6

Step-by-step explanation:

1/6 + 1/6 + 1/6 + 1/6 = 4/6. A unit fraction has a numerator of 1 so since 4 is the numerator in 4/6 You should add 1/6 four times.

Hope this helps!

Brain-List?

3 0
3 years ago
Read 2 more answers
riangle XYZ is translated 4 units up and 3 units left to yield ΔX'Y'Z'. What is the distance between any two corresponding point
tester [92]

Answer:

5 units

Step-by-step explanation:

According to the given statement  Δ XYZ is translated 4 units up and 3 units left to yield ΔX'Y'Z' which means that each point in ΔXYZ is moved 4 units up and moved 3 units left.

To find the distance of each corresponding point we will use the Pythagorean theorem which states that the square of the length of the Pythagorean of a right triangle is equal to the sum of the squares of the length of other legs

The square of the required distance = 4^2+3^2 = 16+9 =25

By taking root of 25 we get:

√25 = 5

Thus, we can conclude that the the distance between any two corresponding points on ΔXYZ and ΔX′Y′Z′  is 5 units. ..

7 0
3 years ago
How did you get 1845 when I got 1890
NemiM [27]
This question should be more specific
3 0
2 years ago
What are TWO different ways you know when you are finished dividing?
vfiekz [6]
You know you are finished dividing when you can no longer simply & when you plug it back in to check the answer
7 0
2 years ago
Other questions:
  • Can someone please help me
    12·1 answer
  • Which is answer is correct
    12·1 answer
  • What is 10 radical 12 times 6 radical 6
    6·2 answers
  • How is naming a line segment different from naming a line?
    6·1 answer
  • The following set of coordinates represents which figure?
    7·2 answers
  • What’s the correct answer for this?
    10·1 answer
  • Solve the system of equations using substitution.
    6·1 answer
  • The population of a rabbit colony triples each month.
    9·1 answer
  • Help please confused
    12·1 answer
  • Nine less than the product of a number n and 1/6 is no more than 92
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!