What is 5,325,603.712 in expanded form

Mathematics

2 answers:

Stels [109]3 years ago

7 0

5,000,000+300,000+20,000+5,000+600+3+.700+.10+.2 i think thats the answer

nikklg [1K]3 years ago

5 0

5,000,000+300,000+20,000+5,000+600+3+.7+.01+.002

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Answer:

The growth rate he needs to achieve his goal is approximatelly 19.8%

Step-by-step explanation:

Since the sum will be compounded continuously we have to use the appropriate formula given below:

M = C*e^(r*t)

Where "M" is the final amount, C is the initial amount, r is the interest rate and t is the time elapsed. Since Sung Lee will invest that sum at 18 years old and he wants to recieve the return at 25, then the time elapsed is given by 25 -18 = 7 years. We can now apply the data to the formula:

16000 = 4000*e^(r*7)

4000*e^(7*r) = 16000

e^(7*r) = 16000/4000 = 4

ln[e^(7*r)] = ln(4)

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3 years ago

How much more would $1000 earn in 5 years in an account compounded continuously than an account compounded quarterly if the inte

choli [55]

$\bf ~~~~~~ \textit{Compounding Continuously Interest Earned Amount}\\\\
A=Pe^{rt}\qquad 
\begin{cases}
A=\textit{accumulated amount}\\
P=\textit{original amount deposited}\to& \$1000\\
r=rate\to 3.7\%\to \frac{3.7}{100}\to &0.037\\
t=years\to &5
\end{cases}
\\\\\\
A=1000e^{0.037\cdot 5}\implies A=1000e^{0.185}\\\\
-------------------------------\\\\$

$\bf ~~~~~~ \textit{Compound Interest Earned Amount}
\\\\
A=P\left(1+\frac{r}{n}\right)^{nt}
\quad 
\begin{cases}
A=\textit{accumulated amount}\\
P=\textit{original amount deposited}\to &\$1000\\
r=rate\to 3.7\%\to \frac{3.7}{100}\to &0.037\\
n=
\begin{array}{llll}
\textit{times it compounds per year}\\
\textit{quarterly, thus four}
\end{array}\to &4\\
t=years\to &5
\end{cases}
\\\\\\
A=1000\left(1+\frac{0.037}{4}\right)^{4\cdot 5}\implies A=1000(1.00925)^{20}$

compare both amounts.

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