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g100num [7]
3 years ago
15

Sheet of paper. 1. y<4

Mathematics
1 answer:
TiliK225 [7]3 years ago
5 0
Is there any more to the question? i’m confused
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The relative growth rate for a certain type of mutual fund is 15% per year. An account is opened with a balance of $3,000. How m
wlad13 [49]

We have been given that an account is opened with a balance of $3,000 and relative growth rate for a certain type of mutual fund is 15% per year.  

In order to tackle this problem we have to find the value of mutual fund after 5 years. For our purpose we will use compound interest formula.

A=P(1+r)^{t} ,where A= amount after t years, P= principal amount, r= interest rate (decimal) and t= number of years.

After substituting our given values in above formula we will get

A=3000(1+.15)^{5}

Now we will solve for A

A=3000(1+.15)^{5}=3000(1.15)^{5}\\ A=3000\cdot (2.011357187)=6034.07

Therefore, after 5 years mutual fund is worth $6034.07.


8 0
4 years ago
HELPPPPPPPPPPPPPPPPPPPPPPPPPPPP PLEASEEEEEEEEEEEEEEEEEEEEEEEEEEEEE
meriva
Add all the number then multiply by 1,000
8 0
3 years ago
Read 2 more answers
What number is 25 percent of 84?
raketka [301]

Answer: 21

Step-by-step explanation:25%=1/4

1/4*84 =84/4

84/4=21

3 0
3 years ago
Read 2 more answers
Boston , Massachusetts, and buffalo, New York, are hit by snowstorms that last 3 days . Boston accumulates snow at a rate of 1.5
stich3 [128]

Question is ;

Complete question is;

Boston , Massachusetts, and buffalo, New York, are hit by snowstorms that last 3 days . Boston accumulates snow at a rate of 1.5 feet every 36 hours. Buffalo accumulates snow at a rate of 0.01 inches every minute.

Which city accumulates more snow in 3 days? How much more snow?

Answer:

- Boston accumulates more snow in 3 days.

- It accumulates 0.6 ft of snow more than Boston

Step-by-step explanation:

Boston accumulates 1.5 feet of snow every 36 hours.

Number of hours in 3 days = 24 × 3 = 72 hours.

Thus, In 72 hours, Boston would have accumulated; (1.5 × 72)/36 = 3 feet of snow.

Now, Buffalo accumulates 0.01 inches of snow every minute.

In 3 days, number of minutes we have = 60 × 24 × 3 = 4320 minutes

Thus, total snow accumulated in 3 days = 0.01 × 4320/1 = 43.2 inches

Now, let's convert this to ft;

12 inches = 1ft

Thus; 43.2 inches = 43.2 × 1/12 = 3.6ft

Thus, Buffalo accumulates more snow in 3 days.

It accumulates 0.6 ft of snow more than Boston

3 0
3 years ago
Share
Anika [276]

Answer:

Step-by-step explanation:

7 0
2 years ago
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