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BlackZzzverrR [31]
2 years ago
6

Brittany will be working full time this summer to save for her goal of having 10,000 by the time she is 21. Brittany has an acco

unt of 3.5% interest, compounded monthly. She'll turn 17 at the end of the summer. About how much will Brittany have to deposit so that. Her money can grow into 10,00 by the time she's 21?
Mathematics
1 answer:
photoshop1234 [79]2 years ago
8 0

Answer:

$ 8,695.35

Step-by-step explanation:

This is a compound interest question

Amount after t years = A = P(1 + r/n)^nt

Where P = Initial Amount saved

r = interest rate

t = time in years

n = compounding frequency

A = 10,000

r = 3.5 %

t = 21 - 17 = 4 years

n = Compounded monthly = 12

Step 1

Converting R percent to r a decimal

r = R/100 = 3.5%/100 = 0.035 per year.

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

Solving our equation:

P = 10000 / ( 1 + (0.035/12)^12 ×4 =

P = $8,695.35

The principal investment required to get a total amount, principal plus interest, of $10,000.00 from interest compounded monthly at a rate of 3.5% per year for 4 years is $8,695.35.

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Answer:

D

Step-by-step explanation:

If you ask questions while their speaking it shows that you are paying attention to them. Avoiding eye contact could mean your thinking about something else or you aren't interested. Interrupting them is just being disrespectful. Leaning towards them doesn't really do anything other than you moving.

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2 years ago
Which of the lines is perpendicular to the line shown in the graph
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Find the length of each missing side and each missing angle in the isosceles triangle below.
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Answer:

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Step-by-step explanation:

Remark

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More remark

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