1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
marusya05 [52]
2 years ago
5

Anna also wants to travel after graduation but she isn’t working while in school so she won’t be able to put money aside regular

ly. However, her grandmother gave her the generous gift of $2500 for her birthday and suggested she invest it in a GIC because it’s low risk. She shopped around and found a 4 year GIC investment that earns 2.8% interest annually. How much will Anna have at the end of her four year investment?
Mathematics
1 answer:
Molodets [167]2 years ago
6 0

Answer:

She will have $2792 at the end of her four year investment

Step-by-step explanation:

The compound interest formula is given by:

A(t) = P(1 + \frac{r}{n})^{nt}

Where A(t) is the amount of money after t years, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per year and t is the time in years for which the money is invested or borrowed.

Gift of $2500:

This means that P = 2500

She shopped around and found a 4 year GIC investment that earns 2.8% interest annually.

This means that t = 4, r = 0.028, n = 1.

How much will Anna have at the end of her four year investment?

This is A(4). So

A(t) = P(1 + \frac{r}{n})^{nt}

A(4) = 2500(1 + 0.028)^{4} = 2792

She will have $2792 at the end of her four year investment

You might be interested in
In segment AC, the midpoint is B. If segments AC = 5x-9 and AB = 2x, what is the measure of segment AC.
IgorLugansk [536]

Answer:

The measure of segment AC is 36 units

Step-by-step explanation:

- The mid-point divides the segment into two equal parts in length

- B is the mid point of segment AC

- That means B divides segment AC into two equal parts in length

∴ AB = BC

∵ AC = 5x - 9

∵ AB = 2x

- The two parts AB and BC are equal in length

∴ BC = 2x

∵ AC = AB + BC

- Substitute the values of AB and BC in the expression of AC

∴ AC = 2x + 2x

∴ AC = 4x

∵ AC = 5x - 9

- Equate the two values of AC

∴ 5x - 9 = 4x

- Add 9 to both sides

∴ 5x = 4x + 9

- Subtract 4x from both sides

∴ x = 9

- Substitute the value of x in any expression of AC

∵ AC = 4x

∵ x = 9

∴ AC = 4(9) = 36

* The measure of segment AC is 36 units

8 0
3 years ago
Find each number. round to the nearest tenth if necessary. What percent of 16 is 12?
kvasek [131]
.16x=12 x= 12/.16. x=75
8 0
3 years ago
Jay traveled from Miami to Jacksonville, a distance of 320 miles. He left Miami at 8:00 AM, stopped for lunch for 30 minutes, an
fredd [130]
Distance Rate times Time
320= R 5.25
R= 60.9
R= 61 mph
5 0
3 years ago
Help me please on this question .....!.!.!.!.!.!.!.!.!.!.
Zigmanuir [339]

If you look through the chart, you'll see that in each column,
the amount of money donated is 1/5 the number of lunch
specials sold.

The equation is:

Donation amount = (1/5) · (lunch specials sold) .

The constant of proportionality in money per lunch special sold
is $1/5 or 20 cents.
7 0
3 years ago
8x + 6y - 9 + 2x - 4y - 11
Bumek [7]

Answer:

10x + 2y - 20

Step-by-step explanation:

3 0
3 years ago
Read 2 more answers
Other questions:
  • Winnifred Watchmee made $108 babysitting for herneighbor last month. If she earned $9.00 an hour, howmany hours did she work?
    8·2 answers
  • Find the volume of each three dimensional figure (3 problems please help)
    5·1 answer
  • 2. Imagine you have invested $800 into a savings account that earns 3.5% interest
    9·2 answers
  • Use rounding to estimate 0.93+0.18 plz help me
    10·2 answers
  • A recipe calls for 2 tsp of butter. Melinda wants to make 40% more servings than the recipe makes. Which expression represents h
    15·1 answer
  • A shop has a 3 for 2 offer on chocolate bars The normal price of a chocolate bar is 72p Sian gets 3 chocolate bars from the shop
    11·1 answer
  • What value of n makes the following equation true? n⋅5=−5
    6·2 answers
  • What is 15 percent 0f 75
    10·2 answers
  • A pile of 15 boxes is 3 metres high. What is the depth of each box?
    15·2 answers
  • Write as a single power, then<br> evaluate.<br> (3^3)^4
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!