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Dovator [93]
3 years ago
10

Hank invested $50,000 in a mutual fund that earns 7% interest compounded annually. How much interest did he earn after 10 years?

Mathematics
2 answers:
Fed [463]3 years ago
8 0

9514 1404 393

Answer:

  G)  $48,357.57

Step-by-step explanation:

The future value formula can be used to find the account value:

  FV = P(1 +r)^t

where P is invested at annual rate r for t years.

  FV = $50,000(1.07^10) ≈ $98,357.57

The amount of interest earned is the difference between this value and the value of the initial investment:

  interest = $98,357.57 -50,000 = $48,357.57

Hank earned $48,357.57 in interest after 10 years.

_____

At 7% interest, the "rule of 72" tells you the doubling time of the account is about 72/7 = 10.3 years. That is the account value will be not quite double the original investment after 10 years. So, the amount of interest earned is only slightly less than $50,000. If the account earned simple interest, the interest earned would be $35,000. Only one answer choice is more than $35,000 and less than $50,000.

anastassius [24]3 years ago
7 0

Answer:

F $35,000

Step-by-step explanation:

3,500 is 7% of 50,000 3500 multiplied by 10 years= 35,000

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Answer:

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Step-by-step explanation:

2y - 500 = -20x

20x + 2y - 500 = 0

20x + 2y = 500

y-intercept = 250; its meaning is how many boxes of pencils they started with.

20x + 2y = 500

20(0) + 2y = 500

2y = 500

2y/2 = 500/2

y = 250

x-intercept = 25; How many T-shirts they can sell at most

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x = 25

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2 years ago
A car requires 22 litres of petrol to travel a distance of 259.6 km.Find
Anon25 [30]

Answer:

Step-by-step explanation:

1. A car requires 22 litres of petrol to travel a distance of 259.6 km

what is the distance that the car can travel on 63 ltr of petrol

22ltr = 259.6km

63ltr=

cross multiply

{63 x 259.6}/22 = 16354.8/22 = 743.4 km

A car requires 22 litres of petrol to travel a distance of 259.6 km, it would require 63 ltr of petrol to travel 743.4km

2. To travel a distance of 2013.2 km

we would need to calculate the amount of fuel

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xltr = 2013.2km

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cross multiply

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170.6 ltr is (170.6 x 1.99)/1 = $339.494≈$339.5

The price of fuel consumed for 2013.2 km at 1 liter of petrol at $1.99 is $339.5

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vertex ( 3, -4) upwards facing like a bowl, because the "a" value is positive. So the vertex is the minimum, lowest point on the graph.


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