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
hammer [34]
3 years ago
10

You deposit $1500 in an account that pays 7% annual interest. Find the balance after 2 years when the interest is compounded dai

ly.
Mathematics
1 answer:
valina [46]3 years ago
7 0

Answer:

$1,725.39

Step-by-step explanation:

-Take 1 year =365 days.

#We calculate the effective interest rate for 7% compounded daily;

i_m=(1+i/m)^m-1\\\\=(1+0.07/365)^{365}-1\\\\=0.072501

#We now use this rate to calculate the compounded amount after two years:

A=P(1+i_m)^n\\\\=1500(1.072501)^2\\\\=1725.39

Hence, the  balance after 2 years $1,725.39

You might be interested in
How do you write 750% as a fraction or mixed number
zmey [24]

Answer:

750/100 or 7 1/2 whichever way u need

Step-by-step explanation:

6 0
2 years ago
Is -12 an irrational or rational number
Orlov [11]
-12 is a Irrational number
4 0
3 years ago
Read 2 more answers
Help plz will give brainliest
grin007 [14]

Answer:t the farthest city south is bellville and the volcano name is sue

Step-by-step explanation:

7 0
3 years ago
Read 2 more answers
Find two positive integers such that the sum of the first number and four times the second number is 1000, and the product of th
vladimir2022 [97]

Answer:

The two numbers are:

x = 500

y = 125

Step-by-step explanation:

We want to find two numbers x and y, such that:

x + 4*y = 1000

f(x, y) = x*y is maximum.

From the first equation, we can isolate one of the variables to get

x = 1000 - 4y

now we can replace it in f(x, y):

x*y = (1000 - 4*y)*y  = 1000*y - 4*y^2

So now we want to maximize the function:

f(y) =- 4*y^2 + 1000*y

where y must be an integer.

Notice that this is a quadratic equation with a negative leading coefficient (so the arms of the graph will open downwards), thus, the maximum will be at the vertex.

Remember that for a general quadratic equation:

y = a*x^2 + bx + c

the x-value of the vertex is:

x = -b/(2*a)

so, in the case of:

f(y) =- 4*y^2 + 1000*y

the y-value of the vertex will be:

y = -1000/(2*-4) = 1000/8 = 125

So we found the value of y.

now we can use the equation:

x = 1000 - 4*y

x = 1000 - 4*125 = 1000 - 500 = 500

x = 500

Then the two numbers are:

x =500

y = 125

6 0
2 years ago
The point halfway between two end points of a line segment is a
Liula [17]
The point halfway between two end points is called a midpoint
3 0
3 years ago
Other questions:
  • Charlotte read a book that is 608 pages and 60 hours last month how many pages per hour was that
    13·2 answers
  • A box resting on a table has a mass of 5.0 kg what is its weight
    13·1 answer
  • Every month Marina pays $79 for mobile phone service, $59.95 for cable service, and $45.50 for internet service. She can switch
    8·2 answers
  • Write 7340 in standard for
    8·1 answer
  • Please help me!!!!!!!​
    7·1 answer
  • Simplify 5x + 2 – 4x + 3
    5·1 answer
  • there is a daily fee for renting a moving truck, plus a charge of 0.50 per mile driven. if driven 48 miles, it costs 64 to rent
    14·1 answer
  • What is 1/2 percentage of a whole number (show work if u can) HELP IM DUM
    15·1 answer
  • Suppose Paul kicks a soccer ball straight up into the air with an initial velocity of 96 feet per second. The function h(t)= -16
    9·1 answer
  • Courtney must earn at least $150 to pay for broken window. She earns $10 for every car she washes.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!