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
andre [41]
3 years ago
10

If you invest $500 at 3% compounded monthly for 2 years, how much interest you do earn? Show work.

Mathematics
1 answer:
Elodia [21]3 years ago
4 0

Answer:

  $30.88

Step-by-step explanation:

The account value is given by ...

  A = P(1 +r/n)^(nt)

where P is the principal invested, r is the annual interest rate, t is the number of years, n is the number of times interest is compounded per year.

The amount of interest earned is the account value less the initial investment:

  I = A - P = P(1 +r/n)^(nt) -P  = P((1 +r/n)^(nt) -1)

Filling in the given values, we get ...

  I = 500((1 +.03/12)^(12·2) -1) = 500(1.0025^24 -1) ≈ $30.88

The amount of interest earned is $30.88.

You might be interested in
Describe a way to check the correctness of a subtraction answer.
Tamiku [17]

Step-by-step explanation:

Well in general, we can represent subtraction as: x-y=z

"z" represents the difference, and it really just represents x with y taken away. So if we were to "give back" this y value, we should get "x".

This means that: z+y=x

So one way to check, is adding the value that's being subtracted (y value) and the difference (z value), this should get you the value that is being subtracted from (x value). If you don't get the original value that's being subtracted from (x-value) then you know the answer you got is wrong.

3 0
1 year ago
In the year 2008, a person bought a new car for $26500. For each consecutive year
DanielleElmas [232]

Answer:

$20500

Step-by-step explanation:

26500-(.12*26500)=23320 For 1 year

23320-(.12*23320)=$20521.60 For 2 years

6 0
2 years ago
What is the effect in the time required to solve a prob- lem when you double the size of the input from n to 2n, assuming that t
Inga [223]

Answer:

f(2n)-f(n)=log2

b.lg(lg2+lgn)-lglgn

c. f(2n)/f(n)=2

d.2nlg2+nlgn

e.f(2n)/(n)=4

f.f(2n)/f(n)=8

g. f(2n)/f(n)=2

Step-by-step explanation:

What is the effect in the time required to solve a prob- lem when you double the size of the input from n to 2n, assuming that the number of milliseconds the algorithm uses to solve the problem with input size n is each of these function? [Express your answer in the simplest form pos- sible, either as a ratio or a difference. Your answer may be a function of n or a constant.]

from a

f(n)=logn

f(2n)=lg(2n)

f(2n)-f(n)=log2n-logn

lo(2*n)=lg2+lgn-lgn

f(2n)-f(n)=lg2+lgn-lgn

f(2n)-f(n)=log2

2.f(n)=lglgn

F(2n)=lglg2n

f(2n)-f(n)=lglg2n-lglgn

lg2n=lg2+lgn

lg(lg2+lgn)-lglgn

3.f(n)=100n

f(2n)=100(2n)

f(2n)/f(n)=200n/100n

f(2n)/f(n)=2

the time will double

4.f(n)=nlgn

f(2n)=2nlg2n

f(2n)-f(n)=2nlg2n-nlgn

f(2n)-f(n)=2n(lg2+lgn)-nlgn

2nLg2+2nlgn-nlgn

2nlg2+nlgn

5.we shall look for the ratio

f(n)=n^2

f(2n)=2n^2

f(2n)/(n)=2n^2/n^2

f(2n)/(n)=4n^2/n^2

f(2n)/(n)=4

the time will be times 4 the initial tiote tat ratio are used because it will be easier to calculate and compare

6.n^3

f(n)=n^3

f(2n)=(2n)^3

f(2n)/f(n)=(2n)^3/n^3

f(2n)/f(n)=8

the ratio will be times 8 the initial

7.2n

f(n)=2n

f(2n)=2(2n)

f(2n)/f(n)=2(2n)/2n

f(2n)/f(n)=2

5 0
3 years ago
Complete the square to solve the equation below. check all that apply.<br><br> x^2 + 8x - 1 = 19
Andreas93 [3]
X=-10,x=2.I hope this helps.
8 0
1 year ago
Read 2 more answers
Your cell phone costs $50 a month plus $0.25 for each text message, (t). How much would your monthly bill be if you sent 40 text
aalyn [17]

Answer:

$60

Step-by-step explanation:

40 text messages × .25 each = $10. Plus the $50 per month is $60.

8 0
2 years ago
Read 2 more answers
Other questions:
  • HELP ME PLZ PPL!!!!
    15·1 answer
  • A hotel must increase its price by 5% per night, if the new price is $168 per night. What was the original cost?
    7·1 answer
  • Which one of the following numbers is a multiple of 8?
    7·2 answers
  • Sandy has 16 roses, 8 daisies, and 32 tulips. She wants to arrange all the flowers in bouquets. Each bouquet has the same number
    12·2 answers
  • (X^2+3x)^6/5 - x^3 = 4
    10·1 answer
  • Solve for x, -3x + 8 &lt; 23
    13·2 answers
  • Solve: -6 = b/18⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
    7·2 answers
  • Explain why the measure of angle a is equal to 45∘ and the measure of angle c is equal to 70∘ .
    13·1 answer
  • AND EXPLAIN WHY!! DUE IN 20 MINUTES
    14·1 answer
  • What is 1/4 equal to?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!