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jenyasd209 [6]
3 years ago
7

I need help like Rn

Mathematics
1 answer:
igomit [66]3 years ago
6 0
With
explanation; i gotcha
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2. Harry just deposited $1500 into a savings account giving 6% interest compounded quarterly.a) How much will be in the account
Studentka2010 [4]

The formula for compound interest is:

\begin{gathered} A=P(1+\frac{r}{n})^{nt} \\ \text{where,} \\ A=\text{ Final amount} \\ r=\text{ Interest rate} \\ n=\text{ Number of times interest applied per period} \\ t=\text{ Number of time period elapsed} \\ P=\text{ Intial principal balance} \end{gathered}

Given data:

\begin{gathered} P=\text{ \$1500} \\ r=6\text{ \%}=0.06 \\ n=4\text{ times (compounded quarterly)} \end{gathered}

a. After ten years, that is t = 10 years, the amount in the account will be

\begin{gathered} A=1500(1+\frac{0.06}{4})^{4\times10} \\ A=\text{ }1500(1+0.015)^{40} \\ A=\text{ }1500(1.015)^{40} \\ A=\text{ \$2721.03} \end{gathered}

b. After twenty years, that is t = 20 years, the amount in the account will be:

\begin{gathered} A=1500(1+\frac{0.06}{4})^{4\times20} \\ A=1500(1.015)^{4\times20} \\ A=1500(1.015)^{80} \\ A=\text{ \$}4935.99 \end{gathered}

c. The time it takes for Harry's initial account value to double will be:

\begin{gathered} A=2\text{ x initial value = 2 }\times\text{ \$1500 = \$3000} \\ 3000=1500(1.015)^{4t} \\ (1.015)^{4t}=\frac{3000}{1500} \\ (1.015)^{4t}=2 \\ \text{ Find the logarithm of both sides} \\ \ln (1.015)^{4t}=\ln 2 \\ 4t=\frac{\ln 2}{\ln 1.015} \\ 4t=46.56 \\ t=\frac{46.56}{4}=11.64 \end{gathered}

Therefore, the time it takes Harry's initial account to double is approximately 11 years

8 0
1 year ago
The system of equations cx + 3y = c – 3 and 12x + cy = c will have infinitely many solutions if the value of c is
irinina [24]

Answer:

6

Step-by-step explanation:

1. re-write the given system:

cx+3y=c-3; => y= -cx/3 +(c-3)/3

12x+cy=c; => y= -12x/c+c/12

2. according the condition the rule for the parallel graphs is:

-c/3= -12/c

3. to calculate the unknown 'c':

c²=36; ⇔c=±6

7 0
3 years ago
Read 2 more answers
The cost of insurance can vary wildly between insurance companies. True or False
Liono4ka [1.6K]

Answer:

The answer will be True

Step-by-step explanation:

Because I said so

4 0
3 years ago
) Solve this equation: − 10 + = 8 + 2 − 18
nikitadnepr [17]

Answer:

I think the question is wrong check ur question and I will answer

4 0
3 years ago
Find the area of a triangle with a base 2.6 m and height of 7 m.
nirvana33 [79]
(2.6x7)/2

18.2/2

Area=9.1 m^2
3 0
4 years ago
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