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vivado [14]
3 years ago
5

Jasmine invests $2,658 in a retirement account with a fixed annual interest rate of 9% compounded continuously. What will the ac

count balance be after 15 years?
Mathematics
2 answers:
galben [10]3 years ago
6 0

Answer:

The amount  balance be after 15 years is $10253.03.        

Step-by-step explanation:

Given : Jasmine invests $2,658 in a retirement account with a fixed annual interest rate of 9% compounded continuously.

To find : What will the account balance be after 15 years?

Solution :

The formula of compounded continuously is

A=Pe^{rt}

Where, A is the amount

P is the principal P=$2658

r is the rate of interest r=9%=0.09

t is the time t=15 years

Substitute all the values in the formula,

A=Pe^{rt}

A=2658\times e^{0.09\times15}

A=2658\times e^{1.35}

A=2658\times 3.857

A=10253.03

Therefore, The amount  balance be after 15 years is $10253.03.

RideAnS [48]3 years ago
4 0

1) with this exercise you have the following  data , initial capital C =  $ 2,658 , rate of interest i= 9 % , time in years of  n = 15

2) with the formula M = C(1+i) ^n, can obtain  the account balance  M, at 15 years


M = 2,658(1+0.09)^15 = $9,681

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The Greenpoint factory produced two-fifths of the Consolidated Brick Company’s bricks in 1991. If the Greenpoint factory produce
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Answer:

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Step-by-step explanation:

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4 0
3 years ago
If three pears and four oranges cost $4.85 and three pears and ten oranges cost $8.75 what is the cost of a pear and an orange
marishachu [46]

Answer:

1 pear = $0.75; 1 orange = $0.65

Step-by-step explanation:

(1)               3P +  4O = 4.85

(2)              3P + 10O = 8.75                 Eqn (2) - Eqn (1)

3P + 10O – 3P – 4O = 8.75 – 4.85     Combine like terms

                           6O = 3.90                 Divide each side by 6

                             O = $0.65              Substitute into Eqn (1)

           3P + 4×0.65 = 4.85

               3P + 2.60 = 4.85                 Subtract 2.60 from each side

                           3P = 2.25                Divide each side by 3

                            P = $0.75

Oranges cost $0.65 each and pears are $0.75 each

4 0
3 years ago
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