Answer:
(1) $11955.38
(2) $12228.62
(3) $12293.527
(4) $12326.6
Step-by-step explanation:
Compound interest is given by
A= P( 1 + r/n)^n*t
A= Final amount
P = initial amount = 6000
r = interest rate = 9% = 0.09
n = number of times interest applied per time period
t = number of time periods elapsed
(1) Compounded annually
n = 1 , t = 8
A = 6000( 1+ 0.09/1) ^1*8
A = 6000( 1.09) ^8 = $11955.38
(2) compounded quarterly
n = 4 , t = 8
A = 6000( 1+ 0.09/4) ^4*8
= 6000( 1.0225)^32 = $12228.62
(3) compounded monthly
n = 12 , t = 8
A = 6000( 1+0.09/12)^12*8 = $12293.527
(4) compounded continuously
A = P* e^rt
r = 0.09 , t = 8
= 6000* e^0.09*8
= 6000* e^0.72 = $12326.6
Answer:
2 dollars?
Step-by-step explanation:
8 divided by 4
The bottom answer is correct. I had some trouble with this so I had to find x and y in separate parts.
TO FIND X
notice that the top triangle and bottom triangles are similar, meaning if you multiple all three sides of one by a specific number, it becomes the same size as the bottom triangle.
17 x n = 8, therefore n=8/17
8 x n = X, therefore X=64/17
For some reason, this does not give a correct value for Y, so I had to use trig
TO FIND Y
Notice that the angle DAB is the same as DBC (lets call this angle Ø)
Using trig rule, we know that the cos of an angle is equal to the adjacent side divided by the hypotenuses.
We can now form some equations:
cosØ = 15/17 (from the top triangle)
cosØ = 8/Y (from bottom triangle)
Now we know that Y=(8x17)/15 = 136/15
X=64/15 Y=136/15