All categories

3 years ago

Lucy have $6400 if she invests $1200 at 15% interest compounded quarterly?

Mathematics

1 answer:

svet-max [94.6K]3 years ago

8 0

Answer:

11.4 years

Step-by-step explanation:

We assume you want to know the time it takes for Lucy's investment of $1200 to have a value of $6400. The compound interest formula is good for finding that.

FV = P(1 +r/n)^(nt)

for principal P invested at rate r per year for t years, compounded n times per year. We want to find t such that ...

6400 = 1200(1 +0.15/4)^(4t)

16/3 = 1.0375^(4t) . . . . divide by 1200

log(16/3) = 4t·log(1.0375) . . . . take logarithms

t = log(16/3)/(4·log(1.0375)) ≈ 11.4

It will take about 11.4 years for Lucy's investment value to be $6400.

You might be interested in

(-6,8); perpendicular to y = -3/2x -1

UNO [17]

Answer:

$y = \frac{2}{3} x + 12$

Step-by-step explanation:

$y = - \frac{3}{2} x - 1$

The gradient of a line is the coefficient of x when the equation of the line is written in the form of y=mx+c.

Thus, gradient of given line= $- \frac{3}{2}$ .

The product of the gradients of perpendicular lines is -1.

(Gradient of line)(-3/2)= -1

Gradient of line

$- 1 \div ( - \frac{3}{2} ) \\ = - 1( - \frac{2}{3} ) \\ = \frac{2}{3}$

Substitute m= $\frac{2}{3}$ into y=mx+c:

$y = \frac{2}{3} x + c$

To find the value of c, substitute a pair of coordinates.

When x= -6, y= 8,

$8 = \frac{2}{3} ( - 6) + c \\ \\ 8 = - 4 + c \\ c = 8 + 4 \\ c = 12$

Thus, the equation of the line is $y = \frac{2}{3} x + 12$ .

7 0

2 years ago

rosy has 16 pencils and 24 erasers. she is putting together packets that will have an equal number of pencils and erasers in eac

faust18 [17]

Answer:48

Step-by-step explanation: you were indirectly asked for the L.C. M of 16 and 24

4 0

3 years ago

48 out of 120 people at a fair bought fried Oreos. What percentage of the people bought fried Oreos?

oksano4ka [1.4K]

Answer:

40%

Step-by-step explanation:

5 0

3 years ago

Read 2 more answers

Alice wants to put wall-to-wall carpeting in a small room with the floor plan shown.

AURORKA [14]

I found the complete problem.

If Alice divides it into two trapezoids, the area formula would be: A = [(a+b) / 2] * h
Trapezoid 1
A = [(7.5 + 15)/2 * 5
A = (22.5/2) * 5
A = 11.25 * 5
A = 56.25 sq. ft

Trapezoid 2
A = [(5 + 10)/2 * 7.5
A = (15/2) * 7.5
A = 7.5 * 7.5
A = 56.25 sq. ft

Total area = 56.25 + 56.25 = 112.50 sq. ft.

3 0

3 years ago

10 points

Archy [21]

Answer:

16 books fit and theres .8 inches left

Step-by-step explanation:

16x2.2 = 35.2

36 - 35.2 + 0.8

7 0

3 years ago

Read 2 more answers