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zzz [600]
3 years ago
13

Danny decided to invest his $500 tax refund rather than spending it. He found a bank that would pay him 4% interest, compounded

quarterly. If he deposits the entire $500 and does not deposit or withdraw any other amount, how long will it take him to double his money in the account? Round your answer to the nearest tenth of a year. It will take Answer years for his investment to double.
Mathematics
1 answer:
Blababa [14]3 years ago
5 0
Present value, PV = $500
Future value, FV = 2*PV = 2*500 = $1,000
Rate, r = 4% = 0.04
Compounding times in a year, n = 4 (compounded quarterly)
Time, t = ??

The future value expression is stated as:
FV = PV (1+r/n)^nt

Substituting;
1000 = 500 (1+0.04/4)^4t
2 = (1.01)^4t
ln 2 = 4t ln 1.01
0.6931 = 4t* 0.00995
0.6931 = 0.0398t
t = 17.414 years

Time required for the amount to double is 17.41 years.
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What is this supplementary angle?
Elza [17]

Answer:

Step-by-step explanation:

Supplementary angles sum to 180 degrees.

x+118=180

x=62 degrees

5 0
3 years ago
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Which are correct representations of the inequality –3(2x – 5) < 5(2 – x)? Select two options.
avanturin [10]

The correct simplified inequality is - 6x + 15 < 10 - 5x and the number line representation is "an open circle is at 5 and a bold line starts at 5 and is pointing to the right".

The given inequality is -3(2x - 5) < 5(2 - x)

We need to simplify the inequality.

<h3>What is inequality?</h3>

In mathematics, inequality is a statement of an order relationship greater than, greater than or equal to, less than, or less than or equal to between two numbers or algebraic expressions.

Consider LHS and simplify -3(2x - 5) = -3(2x)-5(-3)

⇒ -3(2x - 5) = - 6x + 15 [∵(-)(-) = (+)]

Consider RHS and simplify 5(2 - x) = 5(2) + 5(-x)

⇒5(2 - x) = 10 - 5x [∵(+)(-) = (-)]

Now, - 6x + 15 < 10 - 5x

By subtracting 15 from both sides, we get

- 6x < -5 - 5x

By adding 5x to both sides, we get - x < - 5

The coefficient of x is -1. So, divide both sides by -1

Then we get x > 5

Hence, the correct simplified inequality is - 6x + 15 < 10 - 5x and the number line representation is "an open circle is at 5 and a bold line starts at 5 and is pointing to the right".

To learn more about inequalities visit:

brainly.com/question/20383699.

#SPJ1

5 0
1 year ago
I NEED HELP!!! 21-22
Nesterboy [21]

21. P=118

21. Q=142

22. P=120

22. R=60

22. S=60

3 0
3 years ago
You pick a card, roll a die, and find the sum. How many different sums are possible?
svlad2 [7]

Answer:

6

Step-by-step explanation:

7 0
2 years ago
NEED THE ANSWER ASAP PLEASE
frutty [35]

Answer:

x = 9

Step-by-step explanation:

Since the angle is bisected by rhe segment then the ratio of the sides to the corresponding parts of the base are equal, that is

\frac{15}{x} = \frac{20}{12} ( cross- multiply )

20x = 180 ( divide both sides by 20 )

x = 9

5 0
3 years ago
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