All categories

2 years ago

you deposit $1500 in an account that pays 5% annual interest compounded continuously what is the balance after 6 years.

1 answer:

3 0

Hello kiddio lets figure this out!

The formula for simple interest is I = P*R*T where I = interest, P = Principal (original amount), R is the rate as a decimal, and T is time in years. So I = 1500*(.05)*6 = 1500*(0.30) = $450. The total amount you have after 6 years is the amount you started with ($1500) plus the interest ($450) which is $1950. The formula for yearly compounding is A = P(1 + r)t where A = Accumulated or final amount P = Principal ($1500) r = interest rate as a decimal (0.05)t = time (6 years) A = 1500*(1 + 0.05)6 = 1500*(1.05)6 = $2010.14

Have a nice day

You might be interested in

HURRRYYYY PLZZZZ ANSWERRR FASTTTTT

ch4aika [34]

Answer:

A on E2020--All repairs requiring 1 hour or less have the same labor cost.

Step-by-step explanation:

I hope this is correct, if not let me know and I will fix it. I'm sorry in advance if this is incorrect.

7 0

2 years ago

Abel Alonzo, Director of Human Resources, is exploring employee absenteeism at the Plano Power Plant. Ten percent of all plant e

Alex17521 [72]

Answer: 0.23

Step-by-step explanation:

Given : F is the event "works in the finishing department;"

and A is the event "is absent excessively."

Given : 10% of all plant employees work in the finishing department; 20% of all plant employees are absent excessively; and 7% of all plant employees work in the finishing department and are absent excessively.

i.e. P(A)= 0.20 ; P(F)=0.10 ; P(A ∩ F) = 0.07

We know that $P(X\cup Y)=P(X)+P(Y)-P(X\cap Y)$

Then,

$P(A\cup F)=P(A)+P(F)-P(A\cap F)\\\\\Rightarrow\ P(A\cup F)=0.20+0.10-0.07=0.23$

Hence, the required answer is $P(A\cup F)=0.23$

5 0

3 years ago

PLEASE HELP ASAP!!!! WILL MARK BRAINLIEST !!!

Veronika [31]

The answer is D. The last one

6 0

3 years ago

Which phrase describes an unknown or changeable quantity?

Artist 52 [7]

B i think that because there’s no quantity

7 0

2 years ago

54 thousands 6 hundreds 12 tens – 15 thousands 8 hundreds 26 tens = ________(1 Point)

Afina-wow [57]

Answer:

38,660

Step-by-step explanation:

54 thousands 6 hundreds 12 tens – 15 thousands 8 hundreds 26 tens

54 thousands = 54000

6 hundreds = 600

12 ten = 12*10 = 120

54 thousands 6 hundreds 12 tens = 54000+600+120 = 54720

15 thousands = 15000

8 hundreds = 800

26 tens = 26*10 = 260

15 thousands 8 hundreds 26 tens = 15000+800+260 = 16060

Thus,

54 thousands 6 hundreds 12 tens – 15 thousands 8 hundreds 26 tens

= 54720- 16060 = 38,660 (Answer)

3 0

2 years ago