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3 years ago

Determine how much money you will have after 8 years if you invest 4,000$ at 7% compounded monthly

1 answer:

7 0

You would get $26,880.
0.07*4000= 280; so $280 are added every month
There are 96 months in 8 years, so multiply 280*96 which =26,880

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Ionic bonds occur between?

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Answer:

Ionic bonds usually occur between metal and nonmetal ions. For example, sodium (Na), a metal, and chloride (Cl), a nonmetal, form an ionic bond to make NaCl. In a covalent bond, the atoms bond by sharing electrons. Covalent bonds usually occur between nonmetals.

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3 years ago

The principal represents an amount of money deposited in a savings account subject to

Nataliya [291]

Compound interest is the adding of interest to the principle sum of a loan or deposit. The amount of money in the account after 2 years is $7426.30, while the interest earned in 2 years is $426.30.

<h3>What is compound interest?</h3>

Interest on interest, or compound interest, is the adding of interest to the principle sum of a loan or deposit. It's the outcome of reinvesting interest rather than paying it out, so that interest is received on the principal plus previously collected interest in the next quarter.,

$A = P(1+ \dfrac{r}{n})^{nt}$

where A is the final amount

P is the principal amount

r is the rate of interest

n is the number of times interest is charged in a year

t is the number of years

Given the principal amount is $7,000 while the rate of interest is 3% which is compounded annually.

A. The amount of money in the account after 2 years will be,

A = $7000(1 + 0.03)² = $7426.30

B. The amount of interest earned is will be,

The amount of interest earned = $7426.30 - $7000 = $426.30

Hence, the amount of money in the account after 2 years is $7426.30, while the interest earned in 2 years is $426.30.

Learn more about Compound Interest:

brainly.com/question/25857212

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2 years ago

A coin is flipped eight times where each flip comes up either heads or tails. How many possible outcomes a) are there in total?

attashe74 [19]

Answer:

There are 256 ways in total.

There are 56 possible outcomes contain exactly three heads.

The possible outcomes contain at least three heads is 219.

The possible outcomes contain the same number of heads and tails are 70.

Step-by-step explanation:

Consider the provided information.

A coin is flipped eight times where each flip comes up either heads or tails.

Part (a) How many possible outcomes are there in total?

Each time we flip a coin it comes up either heads or tail.

Therefore the total number of ways are:

$2\times 2\times 2\times 2\times 2\times 2\times 2\times 2=2^8=256$

Hence, there are 256 ways in total.

Part (b) contain exactly three heads?

We want exactly 3 heads, therefore,

n=8 and r=3

According to the definition of combination: $\binom{n}{r}=\frac{n!}{r!(n-r)!}$

$\binom{8}{3}=\frac{8!}{3!(5)!}=56$

Hence, there are 56 possible outcomes contain exactly three heads.

Part (c) contain at least three heads?

For 3 heads: $\binom{8}{3}=\frac{8!}{3!(5)!}=56$

For 4 heads: $\binom{8}{4}=\frac{8!}{4!(4)!}=70$

For 5 heads: $\binom{8}{5}=\frac{8!}{5!(3)!}=56$

For 6 heads: $\binom{8}{6}=\frac{8!}{6!(2)!}=28$

For 7 heads: $\binom{8}{7}=\frac{8!}{7!(1)!}=8$

For 8 heads: $\binom{8}{8}=1$

Now add them as shown:

56+70+56+28+8+1=219

Hence, the possible outcomes contain at least three heads is 219.

Part (d) contain the same number of heads and tails?

Same number of heads and tails means that the value of r=4.

Therefore,

$\binom{8}{4}=\frac{8!}{4!(4)!}=70$

Hence, the possible outcomes contain the same number of heads and tails are 70.

6 0

3 years ago