All categories

3 years ago

You deposited $2000 in an account that pays 8% interest compounded yearly. Find the balance of the account after 3 years.

Mathematics

1 answer:

hichkok12 [17]3 years ago

6 0

Answer:

$2,519.42

Step-by-step explanation:

To solve this problem, lets use the compound interest formula:

$A=P(1+\frac{r}{n} )^{nt}$

P = initial balance

r = interest rate (decimal)

n = number of times compounded annually

t = time

First, lets change 8% into a decimal:

8% -> $\frac{8}{100}$ -> 0.08

Now lets plug the values into the equation:

$A=2,000(1+\frac{0.08}{1})^{1(3)}$

$A=2,519.42$

Your answer is $2,519.42

You might be interested in

Which exponential function is represented by the values in the table?

Goryan [66]

Answer:

$\displaystyle f(x)=4\cdot\left(\frac{1}{2}\right)^x$

Step-by-step explanation:

Exponential Function

The exponential function can be written with the general equation:

$f(x)=A\cdot r^x$

Where A is the value when x=0 and r>0 is the ratio. If r is greater than 1, the function is increasing, if r is less than 1, the function is decreasing.

The table shows the relation between values of x and values of the function y. Note that as x increases (one by one), y decreases with a ratio of 1/2. Only the last two choices have ratios of r=1/2. We only have to test which one of them has the correct value of y=4 when x=0.

Substituting in the third function:

$\displaystyle f(x)=4\cdot\left(\frac{1}{2}\right)^x$

$\displaystyle f(0)=4\cdot\left(\frac{1}{2}\right)^0$

$f(0) = 4$

This gives the correct value of f(0)=4.

Substituting in the fourth function:

$\displaystyle f(x)=\frac{1}{2}\cdot\left(\frac{1}{2}\right)^x$

$\displaystyle f(0)=\frac{1}{2}\cdot\left(\frac{1}{2}\right)^0$

$f(0) = \frac{1}{2}$

This choice is wrong

Correct choice:

$\boxed{\displaystyle f(x)=4\cdot\left(\frac{1}{2}\right)^x}$

8 0

3 years ago

Chuck bought 19 movie tickets for $174.50.

kap26 [50]

Answer:

Step-by-step explanation:

5 0

3 years ago

Which sets are not closed under subtraction

anastassius [24]

If you're referring to the different sets of real numbers, it's the ones that you could try to do subtraction and not get an answer that still in that set.

For example, natural numbers (aka 1, 2, 3, 4, ...) are not, because 7 - 11 = -4 and -4 is not a natural number.

Also, whole numbers (aka 0, 1, 2, 3, 4, ...) has the same issue.

Basically any set of real numbers that doesn't include negative numbers will have this issue.

6 0

2 years ago

Write in terms of i Simplify your answer as much as possible. square root of -48

grandymaker [24]

The square root of -48 is 2 because 2x2x2x2x2x2x is not -48

7 0

3 years ago

The scale of the room design shows that 1" = 3 feet. How big is the actual room if the design shows a square that is 6 inches wi

adoni [48]

Answer:

arah is at a miniature exhibit. There is a model of a skyscraper. Underneath the model was a ratio. It said:

1 inch=30 feet.

If the model is 38 inches tall, how Sarah use this information to find the actual height of the skyscraper?

In this concept, you will learn how proportions are used to find actual and scale dimensions using a scale ratio.

Using Proportions to Find Dimensions

A scale is a ratio that shows the relationship between the representation of an object and the real measurement of an object. Toy makers use scale ratios to make models of cars and airplanes that are proportional to the real thing. Architects use scale drawings to plan the design of buildings.

A scale drawing is a drawing that is used to represent and object that is too large to be drawn in its actual dimensions. If a drawing is to scale, you can use proportions to determine the actual dimensions of the scale drawing.

Let’s look at a scale drawing of a sculpture. In the drawing, the sculpture is 4 inches tall. The scale is 1 inch : 4 feet. It scale can be written as

1 in4 ft

(Note: Inch is abbreviated “in.” or with the double prime mark, ″. Foot/feet is abbreviated “ft” or with the single prime mark, ′.)

A drawing with this scale tells you that 1 inch on paper is equal to 4 feet in real life. If the drawing is 4 inches tall, use the scale to find the actual height of the sculpture.

First, create a proportion using equivalent ratios. Remember to write the corresponding units in the numerator and in the denominator. The actual height of the sculpture is represented by the variable x.

1 in.4 ft.=4 in.x ft.

Then, cross multiply and simplify the equation to find the value of x.

xx==4(4)16

The sculpture will be 16 feet tall.

Let’s make a scale drawing. Use the scale 1′′=2′. Draw a room that is 8′×12′.

First, write a proportion to find the measurement of the width.

1′′2′=x′′8′

Next, cross multiply and simplify the equation to find the value of x.

2x2xx===1(8)84

The drawing will be 4

4 0

2 years ago