Ask question

Ask question

All categories

3 years ago

5

anisha invested $8,000 in an account that earns 10% interest. How much money will she have in 15 years if the interest is compou

nded quarterly?

1 answer:

Anettt [7]3 years ago

8 0

After 15 years she will have about $36,759.78 in her savings account.
Hope this helps!
I would appreciate it if I got brainliest! Thanks! =D

You might be interested in

Could someone help with this i need it badly

Marrrta [24]

Answer:

How can l help you?????????

7 0

2 years ago

1. A retirement account is opened with an initial deposit of $8,500 and earns 8.12% interest compounded monthly. What will the a

Rudik [331]

Answer:

Part A) $\$42,888.48$

Part B) $A=\$22,304$

Part C) The graph in the attached figure

Step-by-step explanation:

Part A) What will the account be worth in 20 years?

we know that

The compound interest formula is equal to

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

where

A is the Final Investment Value

P is the Principal amount of money to be invested

r is the rate of interest in decimal

t is Number of Time Periods

n is the number of times interest is compounded per year

in this problem we have

$t=20\ years\\ P=\$8,500\\ r=0.0812\\n=12$

substitute in the formula above

$A=8,500(1+\frac{0.0812}{12})^{12*20}$

$A=8,500(1.0068)^{240}$

$A=\$42,888.48$

Part B) What if the deposit were compounded monthly with simple interest?

we know that

The simple interest formula is equal to

$A=P(1+rt)$

where

A is the Final Investment Value

P is the Principal amount of money to be invested

r is the rate of interest

t is Number of Time Periods

in this problem we have

$t=20\ years\\ P=\$8,500\\r=0.0812$

substitute in the formula above

$A=8,500(1+0.0812*20)$

$A=\$22,304$

Part C) Could you see the situation in a graph? From what point one is better than the other?

Convert the equations in function notation

$A(t)=8,500(1.0068)^{12t}$ ------> equation A

$A(t)=8,500(1+0.0812t)$ -----> equation B

using a graphing tool

see the attached figure

Observing the graph, from the second year approximately the monthly compound interest is better than the simple interest.

5 0

3 years ago

If h + 12 =22, then h= 10. name the property

pshichka [43]

Answer:

substitution

Step-by-step explanation:

5 0

2 years ago

A points lies on AB and is 3/4 the distance from A to B. Point A is located at (5, 4) and point B is located at (10, 12)

kirza4 [7]

Answer:

The answer for this is D.

Step-by-step explanation:

The reason is that it tells you that is a 3/4 your distance point so you need to count from 3/4.

5 0

2 years ago

An investment firm invested in two companies last year. They invested $11,000 in Company A and made a profit of 24% . They inves

Tema [17]

First off, "whatever%" of "anything" is just (whatever/100) * anything

part A)

so... firm A got 11,000 invested, turned a profit of 24%, how much is 24% of 11000? well (24/100) * 11000

firm B got 14,000 invested, and returned 15% in profits, how much is 15% of 14000? (15/100) * 14000

part B)

for the amounts above, we get 2640 and 2100 respectively

so, the total profit "amount" is 2640 + 2100 or 4740

the total investement was 11000+14000 = 25000

if 25000 is the 100%, how much is 4740 in percentage?

$\bf \begin{array}{ccllll}
amount&\%\\
\text{\textemdash\textemdash\textemdash}&\text{\textemdash\textemdash\textemdash}\\
25000&100\\
4740&x
\end{array}\implies \cfrac{25000}{4740}=\cfrac{100}{x}$

solve for "x"

6 0

2 years ago

Read 2 more answers