All categories

3 years ago

Nevaeh invested $660 in an account paying an interest rate of 3% compounded

Mathematics

1 answer:

iris [78.8K]3 years ago

4 0

Answer:

Step-by-step explanation:

Rate 1: 3

%=3+1/4=

\,\,3.25\%\rightarrow 0.0325

3.25%→0.0325

\text{Rate 2: }3\tfrac{1}{8}\%=3+1/8=

Rate 2: 3

%=3+1/8=

\,\,3.125\%\rightarrow 0.03125

3.125%→0.03125

\text{Calculate Final Amount for Nevaeh}

Calculate Final Amount for Nevaeh

\overline{\phantom{\text{Calculate Final Amount for Nevaeh}}}

Calculate Final Amount for Nevaeh

\text{Compounded Continuously:}

Compounded Continuously:

A=Pe^{rt}

A=Pe

P=660\hspace{35px}r=0.0325\hspace{35px}t=14

P=660r=0.0325t=14

Given values

A=660e^{0.0325(14)}

A=660e

0.0325(14)

Plug in

A=660e^{0.455}

A=660e

0.455

Multiply

A=1040.2744

Use calculator (with e button)

\text{Calculate Final Amount for Jonathan}

Calculate Final Amount for Jonathan

\overline{\phantom{\text{Calculate Final Amount for Jonathan}}}

Calculate Final Amount for Jonathan

\text{Compounded Monthly:}

Compounded Monthly:

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

A=P(1+

)

Compound interest formula

P=660\hspace{35px}r=0.03125\hspace{35px}t=14\hspace{35px}n=12

P=660r=0.03125t=14n=12

Given values

A=660\left(1+\frac{0.03125}{12}\right)^{12(14)}

A=660(1+

0.03125

)

12(14)

Plug in values

A=660(1.0026042)^{168}

A=660(1.0026042)

168

Simplify

A=1021.6468

Use calculator

\text{How much more money Nevaeh has:}

How much more money Nevaeh has:

1040.2744-1021.6468

1040.2744−1021.6468

18.6276

\$ 19

$19

You might be interested in

The sum of four consecutive integers is 134. Find the integers. (please show your work)

lidiya [134]

Answer:

Integers: 32,33,34,35

Step-by-step explanation:

Consecutive means back-to-back, with a difference of 1

Therefore this can be represented with the following equation (where x is the first number), and we can set this equal to the sum

$x+(x+1)+(x+2)+(x+3)=134\\4x+6=134\\4x=128\\x=32$

Therefore since x = 32, all four integers are:

$32,33,34,35$

If we check this, we can see that their sum equals to 134

$32+33+34+35 = 134$

Hope this helps!

8 0

3 years ago

Which expression has a positive quotient?

svp [43]

Answer:

Only 1st option Negative three-fourths divided by Negative two-thirds has positive quotient.

Option A is correct.

Step-by-step explanation:

We will solve to find out Which expression has a positive quotient.

We know the division rule: $\frac{-a}{-b}=\frac{a}{b}$ and $\frac{-a}{b}=\frac{-a}{b}$

We will use these rules

1) Negative three-fourths divided by Negative two-thirds

$=\frac{-\frac{3}{4} }{-\frac{2}{3} }\\=-\frac{3}{4}\times -\frac{3}{2}\\=\frac{9}{8}$

The quotient is positive.

2) Negative StartFraction 1 over 8 EndFraction divided by 3 and one-fifth

$\frac{-\frac{1}{8} }{3\frac{1}{5} }\\=\frac{-\frac{1}{8} }{\frac{16}{5} }\\=-\frac{1}{18} \times \frac{5}{16}\\=-\frac{5}{288}$

The quotient is negative.

3) 2 and StartFraction 2 over 7 EndFraction divided by negative one-fifth

$\frac{2\frac{2}{7} }{-\frac{1}{5} }\\= \frac{\frac{16}{7} }{-\frac{1}{5} }\\=\frac{16}{7} \times -5\\=-\frac{80}{7}$

The quotient is negative.

4) Negative 6 divided by Five-thirds

$\frac{-6}{\frac{5}{3} }\\=-6 \times \frac{3}{5}\\=-\frac{18}{5}$

The quotient is negative.

So, only 1st option Negative three-fourths divided by Negative two-thirds has positive quotient.

Option A is correct.

4 0

3 years ago

Read 2 more answers

The angle θ lies in quadrant ii. cos θ = -2/3 what is tan θ?

Alina [70]

Answer:

-√5/2

Explanation: I took the quiz.

5 0

3 years ago

Help asap info in side the file/ picture

timofeeve [1]

Answer:

600 times 60 equals 36000

1,000 times 60 equals 60000

6000 times 30 equals 18000

Step-by-step explanation:

3 0

4 years ago

Read 2 more answers

A few years ago, a census bureau reported that 67.4% of American families owned their homes. Census data reveal that the owner

STatiana [176]

Answer:

The hypothesis can be defined as follows:

H₀: The rate of home ownership is 67.4%, i.e. p = 0.674.

Hₐ: The rate of home ownership is more than 67.4%, i.e. p > 0.674.

Step-by-step explanation:

In this case we need to determine whether the city should continue with plan of offering tax breaks to first-time home buyers in order to encourage people to become homeowners.

It is provided that, a few years ago, a census bureau reported that 67.4% of American families owned their homes.

But the Census data reveal that the ownership rate in one small city is much lower.

So, to improvise this the city council wants to offer tax breaks to first-time home buyers in order to encourage people to become homeowners.

They decide to adopt the plan on a 2-year trial basis and use the data they collect to make a decision about continuing the tax breaks.

To determine whether the city council should continue with the plan or not, the hypothesis can be defined as follows:

H₀: The rate of home ownership is 67.4%, i.e. p = 0.674.

Hₐ: The rate of home ownership is more than 67.4%, i.e. p > 0.674.

4 0

3 years ago

Read 2 more answers