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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:

37/5 or 7.4 or 7 2/5

Step-by-step explanation:

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2 years ago
Whats is 1+1+3+7+8+33542
Murljashka [212]

Answer:

33562, You could have used a calculator, or used your head, why

Step-by-step explanation:

7 0
3 years ago
The volume of a rectangular prism is 2x^3 - 6x^2 + 8x , and the volume of a cube is 27x^3. What is the total volume of the prism
AleksAgata [21]

Answer:

\displaystyle V_{P + C} = 29x^3 - 6x^2 + 8x

General Formulas and Concepts:

<u>Pre-Algebra</u>

Order of Operations: BPEMDAS

  1. Brackets
  2. Parenthesis
  3. Exponents
  4. Multiplication
  5. Division
  6. Addition
  7. Subtraction
  • Left to Right

<u>Algebra I</u>

Terms/Coefficients

Step-by-step explanation:

<u>Step 1: Define</u>

<em>Identify.</em>

<em />\displaystyle V_P = 2x^3 - 6x^2 + 8x<em />

<em />\displaystyle V_C = 27x^3<em />

<em />

<u>Step 2: Find Combined Volume</u>

  1. [Set up] Add:                                                                                                     \displaystyle V_P + V_C = V_{P + C}
  2. Substitute in variables:                                                                                    \displaystyle V_{P + C} = 27x^3 + 2x^3 - 6x^2 + 8x
  3. Combine like terms:                                                                                        \displaystyle V_{P + C} = 29x^3 - 6x^2 + 8x
8 0
2 years ago
6.) the following function represents the profit P(n) in dollars that a concert promoter makes by selling tickets for n dollars
marissa [1.9K]
For Part A, what to do first is to equate the given equation to zero in order to find your x intercepts (zeroes)

0=-250n^2+3,250n-9,000 after factoring out, we get

-250(n-4)(n-9) and these are your zero values.

For Part B, you need to square the function from the general equation Ax^2+Bx+C=0. So to do that, we use the equated form of the equation 0=-250n^2+3,250n-9,000 and in order to have a positive value of 250n^2, we divide both sides by -1

250n^2-3,250n+9,000=0

to simplify, we divide it by 250 to get n^2-13n+36=0 or n^2-13n = -36 (this form is easier in order to complete the square, ax^2+bx=c)

in squaring, we need to apply <span><span><span>(<span>b/2</span>)^2 to both sides where our b is -13 so,
(-13/2)^2 is 169/4

so the equation now becomes n^2-13n+169/4 = 25/4 or to simplify, we apply the concept of a perfect square binomial, so the equation turns out like this 

(n-13/2)^2 = 25/4 then to find the value of n, we apply the square root to both sides to obtain n-13/2 = 5/2 and n is 9. This gives us the confirmation from Part A. 

For Part C, since the function is a binomial so the graph is a parabola. The axis of symmetry would be x=5.

</span></span></span>
7 0
3 years ago
A hot air balloon is cruising at an altitude of 120 meters above the ground when it begins its descent. The balloon descends at
Gekata [30.6K]

Answer:

120 - 4.5t= 75

t = 10 minutes

Step-by-step explanation:

the equation :

120 - 4.5t= 75

the solution:

-4.5 t = 75-120

-4.5t = -45

t = -45/(-4.5) = 10 minutes

4 0
3 years ago
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