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serious [3.7K]
3 years ago
10

Find the amount of compound interest earned with a principal rate of $925, rate of 6%, compounded quarterly, for 8 years with a

final amount of $1489.55
Mathematics
1 answer:
maxonik [38]3 years ago
5 0

Answer:

$564.55

Step-by-step explanation:

#First, we determine the effective annual interest applicable given a 6% rate compounded quarterly:

i_m=(1+i/m)^m-1\\\\=(1+0.06/4)^4-1\\\\=0.06136

We know that interest earned is equal to the accumulated value minus the initial investment amount or principal.

-Given the final value is $1489.55 and the initial amount is $925, the interest earned is calculated as;

I=A-P\\\\=1489.55-925\\\\=564.55

Hence, the amount of interest earned is $564.55

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navik [9.2K]

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12 5/8=x+9 1/4 Subtract 9 1/4 from each side 3 3/8=x, but 3 1/4=3 2/8

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Two tenths is equal to what in fractions
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Gage skated 1 hr 15 min each day for 5 days and 1 hr 30 min each day for 3 days. How many minutes would he have to skate the nin
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3 0
3 years ago
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6 sweets cost 42p altogether how much do 8 sweets cost
Eddi Din [679]
The best thing to do is to find the cost of one sweet, and to do this, divide 42 by 7.
42/7= 6
Therefore, one sweet costs 6p.
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8 0
3 years ago
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Which equation is the inverse of 2(x - 2)2 = 8(7 + y)?
Marina86 [1]

Answer:

The inverse of 2(x - 2)^2 = 8(7 + y) is y=\sqrt{(4x+28)}+2

Step-by-step explanation:

Given equation :2(x - 2)^2 = 8(7 + y)

\Rightarrow \frac{2(x-2)^2}{8}=7+y\\\Rightarrow \frac{2(x-2)^2}{8}-7=y

Replace x with y and y with x

So, \Rightarrow \frac{2(y-2)^2}{8}-7=x\\\Rightarrow \frac{2(y-2)^2}{8}=x+7\\\Rightarrow 2(y-2)^2=8(x+7)\\\Rightarrow (y-2)^2=4(x+7)\\\Rightarrow (y-2)=\sqrt{4(x+7)}\\\Rightarrow y=\sqrt{4(x+7)}+2\\\Rightarrow y=\sqrt{4x+28)}+2

So, Option C is correct

Hence The inverse of 2(x - 2)^2 = 8(7 + y) is y=\sqrt{(4x+28)}+2

4 0
3 years ago
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