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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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is 4
7 0
3 years ago
The line passing through point (2, 4), parallel to the line whose equation is y = x
grandymaker [24]

Answer:

y = x + 2

Step-by-step explanation:

slope = 1

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3 years ago
Let $P$ and $Q$ be constants. The graphs of the lines $x + 5y = 7$ and $15x + Py = Q$ are perpendicular and intersect at the poi
Marta_Voda [28]

Answer:

<em>(-3, -129)</em>

<em></em>

Step-by-step explanation:

Given

Two lines:

$x + 5y = 7$

$15x + Py = Q$

are perpendicular to each other and intersect at point (-8,3).

To find: (P, Q)

Solution:

The two lines intersect at (-8,3).

It means, the equation of line will be satisfied when we put value of x = -8 and y = 3

Putting in the second equation, we will get an equation in P and Q:

15\times (-8) + P \times 3 = Q\\\Rightarrow 3P = Q +120 ..... (1)

Given that two lines are perpendicular.

It means the product of their slopes will be equal to -1.

i.e. m_1\times m_2=-1

Slope of a line of the form ax+by+c=0 is given as:

m=-\dfrac{a}{b}

So, slopes of given lines are:

m_1=-\dfrac{1}{5}\\m_2=-\dfrac{15}{P}

Using the condition:

-\dfrac{1}{5}\times \dfrac{-15}{P}=-1\\\Rightarrow P = -3

Putting the value of P in equation (1):

\Rightarrow 3\times (-3) = Q +120 \\\Rightarrow Q = -9-120 = -129

So, answer is <em>(-3, -129)</em>

7 0
3 years ago
A rectangle is such that the length of 2 of each adjacent sides are in the ratio 1:3. A similar rectangle has 1 side of 6cm. Fin
Sliva [168]

Answer:

18 cm ;

2 cm

Step-by-step explanation:

Length of each adjacent side = 1 :3

If 1 side = 6 ; the possible values of the adjacent side ;

That is side 2 ÷

If side 1, which is 6cm is the ratio 1 ; then side 2 = 6cm * 3 = 18 cm

If side 1, which is 6cm is the ratio 3 ; then side 2 = 6cm / 3 = 2 cm

Hence, the two Possible values of the adjacent side = 18 cm or 2 cm

8 0
3 years ago
Can someone plot this for me, can’t tell if i’m wrong.
vaieri [72.5K]
Start at 4 and since it a negative go down one and over one
4 0
3 years ago
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