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Nat2105 [25]
3 years ago
14

$1334 is deposited into a savings account at 8% interest, compounded quarterly. To the nearest year, how long will it take for t

he account balance to reach $1,000,000?
Mathematics
1 answer:
Varvara68 [4.7K]3 years ago
5 0

Answer:

  84 years

Step-by-step explanation:

The future value of an investment is given by ...

  FV = P(1 +r/n)^(nt)

where P is the principal amount, r is the annual rate, and n is the number of times per year interest is compounded. Filling in the given values and solving for t, we get ...

  1000000 = 1334(1 +.08/4)^(4t)

  749.6252 ≈ 1.02^(4t) . . . . divide by 1334 and simplify

  log(749.6252) ≈ 4t·log(1.02) . . . . take logarithms

  t ≈ log(749.6252)/(4·log(1.02)) ≈ 83.57

It will take about 84 years for the account balance to reach $1,000,000.

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When David counted his candy by fours, he had two leftovers. When he counted the same candy by fives he had one leftover. How ma
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Answer:

6

Step-by-step explanation:

6 divided by 4 = 1 + 2 leftover

6 divided by 5 = 1 + 1 leftover

3 0
3 years ago
How long will it take a person to walk from Toronto to
storchak [24]

Answer:

About 947 hours, walking at 5 km (3 miles)/hour.

Walking 8 hours /day [at that pace you would need to be an Olympic Athlete to keep up the pace] it will take about four months.

Walk slower, it will take longer.

4 0
2 years ago
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OLEGan [10]

Step-by-step explanation:

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7 0
3 years ago
Given the equation 3x - 4y = 8, which equation below would cause a consistent-dependent system?
Len [333]
3x - 4y = 8

y = mx + b ; m is the slope ; b is the y-intercept

-4y = -3x + 8
y = -3x/-4 + 8/-4
<u>y = 3/4 x - 2</u>

Need to check if the given choices have the same slope.

3x + 4y = -8
4y = -3x - 8
y = -3/4 x - 8/4 = -3/4 x - 2

6x - 8y = 12
-8y = -6x  + 12
y = -6/-8 x + 12/-8
y = 3/4 x - 1 1/2

9x - 12y = 24   This equation would cause a consistent-dependent system
-12y = -9x + 24
y = -9/-12 x + 24/-12
<u>y = 3/4 x - 2</u>  

16x + 12y = -10
12y = -16x - 10
y = -16/12 x - 10/12
y = -1 1/3 x - 5/6

4 0
3 years ago
Read 2 more answers
What is the result of the first step when simplifying 13-4(x-5)
Maksim231197 [3]
I don't really get this question but simply put, if you are in college syntax matters very much. (13-4) = 9 *(x-5) = 9x-45.. although in this case. since there isn't a bracket around 13-4. you'd multiply by the -4 first, giving you, 4x-20+30 =4x-10
8 0
3 years ago
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