The two lines

Jimmy invests $2500 in an account with a 5% interest rate, making no other deposits or withdrawals. What will Jimmy’s account ba

Alik [6]

Answer:

We conclude that the total amount accrued, principal plus interest, from compound interest on an original principal of $2500 at a rate of 5% per year compounded 6 times per year over 8 years is $3723.38.

Step-by-step explanation:

Given

Principle P = $2500

Interest rate r = 5% = 0.05

Time period t = 8 years

To determine

Accrue Amount A = ?

Using the compound interest equation

$A\:=\:P\left(1\:+\:\frac{r}{n}\right)^{nt}$

where:

A represents the Accrue Amount

P represents the Principal Amount

r represents the interest rate

t represents the time period in years

n represents the number of compounding periods per unit t

Important tip:

Given that the interest is compounded 6 times each year, therefore, the value of n = 6.

now substituting P = 2500, r = 0.05, t = 8 and n = 6 in the equation

$A\:=\:P\left(1\:+\:\frac{r}{n}\right)^{nt}$

$A=2500\left(1+\frac{0.05}{6}\right)^{\left(6\right)\left(8\right)}$

$\:A=2500\left(1+\frac{0.05}{6}\right)^{48}$

$A=2500\times 1.48935$ ∵ $\left(1+\frac{0.05}{6}\right)^{48\:\:}=1.48935$

$A=\:3723.38$ $

Therefore, we conclude that the total amount accrued, principal plus interest, from compound interest on an original principal of $2500 at a rate of 5% per year compounded 6 times per year over 8 years is $3723.38.

8 0

2 years ago

What must be true when solving a quadratic equation when using factoring?

Zigmanuir [339]

Answer:

Step-by-step explanation:

The function must be factorable.

For example, x^2 + x - 6= 0 factors to (x + 3)(x - 2) = 0 so the roots are -3 and 2.

x^2 + x - 7 = 0 will not factor so you need another method to solve this.

7 0

2 years ago

Noam must share a cash prize equally among 4 winners. If each person receives $125, what is the amount of the prize

sertanlavr [38]

Answer:

c. 500

Step-by-step explanation:

125+125=250

250+125=375

375+125=500

5 0

2 years ago

Read 2 more answers

3. Two cars are parked, 150m apart, and on opposite sides of a building. A camera on the top of the building rotates and can vie

allsm [11]

Answer:

<em>The building is 61.5 m tall</em>

Step-by-step explanation:

The image below is a diagram where all the given distances and angles are shown. We have additionally added some variables:

h = height of the building

a, b = internal angles of each triangle

x = base of each triangle

The angles a and b can be easily found by subtracting the given angles from 90° since they are complementary angles, thus:

a = 90° - 37° = 53°

b = 90° - 42° = 48°

Now we apply the tangent ratio on both triangles separately:

$\displaystyle \tan a=\frac{\text{opposite leg}}{\text{adjacent leg}}$

$\displaystyle \tan 53^\circ=\frac{150-x}{h}$

$\displaystyle \tan 48^\circ=\frac{x}{h}$

From the last equation:

$x=h.\tan 48^\circ$

Substituting into the first equation:

$\displaystyle \tan 53^\circ=\frac{150-h.\tan 48^\circ}{h}$

Operating on the right side:

$\displaystyle \tan 53^\circ=\frac{150}{h}-\tan 48^\circ$

Rearranging:

$\displaystyle \tan 53^\circ+\tan 48^\circ=\frac{150}{h}$

Solving for h:

$\displaystyle h=\frac{150}{\tan 53^\circ+\tan 48^\circ}$

Calculating:

h = 61.5 m

The building is 61.5 m tall

5 0

3 years ago

The real part of the complex number –5 + 3i is

Firlakuza [10]

<span>A complex number is a number of the form a + bi, where i = and a and b are real numbers. For example, 5 + 3i, - + 4i, 4.2 - 12i, and - - i are all complex numbers. a is called the real part of the complex number and bi is called the imaginary part of the complex number.</span>

5 0

3 years ago

Read 2 more answers