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
jek_recluse [69]
3 years ago
13

You decide to put $100 in a saving account to save for a $3000 down payment on a new car. if the account has an interest rate of

2%per year and is compounded monthly, how long does it take you to earn $3000 without depositing any additional funds.
a) 170.202 yrs
b) 14.3129 yrs
c) 171.755 yrs
d) 168.354
Mathematics
1 answer:
valkas [14]3 years ago
4 0
Hi there
The formula is
A=p (1+r/k)^kt
A future value 3000
P present value 100
R interest rate 0.02
K compounded monthly 12
T time?
We need to solve for t
T=[log (A/p)÷log (1+r/k)]÷k
T=(log(3,000÷100)÷log(1+0.02÷12))÷12
T=170.202 years

So it's a
Hope it helps
You might be interested in
A basketball coach will select the members of a five-player team from among 9 players, including John and Peter. If the five pla
vivado [14]

Answer:

Step-by-step explanation:

Given that a basketball coach will select the members of a five-player team from among 9 players, including John and Peter.

Out of nine players five are chosen at random.

The team consists of John and Peter.

Hence we can sort 9 players as I group, John and Peter and II group 7 players.

Now the selection is 2 from I group and remaining 3 from II group.

Hence no of ways of selecting a team that includes both John and Peter=2C2*7C3=35

Total no of ways = 9C5=126

= \frac{2C2*7C3}{9C5}=\frac{35}{126} =\frac{5}{18}

6 0
3 years ago
Solve for x (8x-27) (3x=58)
melomori [17]

Answer:

x=3.565

Step-by-step explanation:


5 0
2 years ago
Determine the equation of a circle whose diameter has the endpoints (-1, 2) and (7.
Viefleur [7K]

Answer:

(x - 3)^2 + (y + 1) = 25

Step-by-step explanation:

First find the midpoint of the diameter, because that represents the center of the circle.

                                                                     -1 + 7

The x-coordinate of the midpoint is xm = ---------- = 3

                                                                          2

                                                 2 - 4

and the y-coordinate is ym = ---------- = -1

                                                     2

And so the center of this circle is at (3, -1).

Use the Pythagorean Theorem to determine the square of the radius:

square of radius = 4^2 + (-3)^2 = 16 + 9 = 25

And so the equation of this circle is (x - 3)^2 + (y + 1) = 25

5 0
2 years ago
Read 2 more answers
A mountain gorilla weighs 135 pounds and is gaining pound each week. An eastern gorilla
Tju [1.3M]

Answer:

njnnnnnnn

Step-by-step explanation:

nmkm

6 0
2 years ago
3x-7=4x+10 <br> show the steps pleeease
Fudgin [204]

Answer:

-17

Step-by-step explanation:

3x-7=4x+10

Add 7 to both sides & simplify

3x-7=4x+10

+7           +7

3x=4x+17

Subtract 4x from both sides & simplify

3x=4x+17

-4x  -4x

-x=17

*Negative x equals -1*

Divide both sides by -1 & simplify

\frac{-x}{-1} =\frac{-17}{-1}

x=-17

3 0
3 years ago
Read 2 more answers
Other questions:
  • Janice needs to re-shingle the roof of her house. One bundle of shingles costs $35.99 and covers 2.25 m2.
    7·1 answer
  • [-4.5 + 12] = what is the anserw
    12·2 answers
  • With this one I need help with "" please
    11·1 answer
  • ANSWER ASAP <br> PLEASE AND THANK YOU
    9·1 answer
  • A box of spaghetti at the grocery store is purchased for $1.60 wholesale and is marked up by 60 percent. Then, the store marks d
    12·1 answer
  • Which mathematical figure has length but no beginning or end?
    10·2 answers
  • Bernie has to write a report. He will write 3/8 of the report on Monday and 1/3 of the report on Tuesday. How much of the report
    6·1 answer
  • 20 is 16% of what number?
    14·2 answers
  • I NEED HELP ASAP! HELP
    8·1 answer
  • Lena spins the spinner once. What is probability that she will land on
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!