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Leno4ka [110]
3 years ago
7

7. You deposit $675 in a savings account that earns 6% interest compounded monthly.

Mathematics
1 answer:
GrogVix [38]3 years ago
7 0

Answer:

634.5

Step-by-step explanation:

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How to Become a Millionaire Upon graduating from col- lege, Donna has no initial capital. However, during each year she makes de
lesantik [10]

Answer:

amount is 1000 × e^{0.08t}

$40762.20 balance of Donna's account will be 1 million dollars when she retires in 40 years

rate 14.97 %  when Donna's account will have a balance of 1 million dollars in 40 years when principal is $2500

Step-by-step explanation:

principal = $1000

rate = 8 % = 0.08

to find out

the future value, S(t)

principal when Donna's account will be 1 million dollars when she retires in 40 year

at what rate Donna's account will have a balance of 1 million dollars in 40 years

solution

we know compounded continuously formula i.e.

amount = principal × e^{rt}    ..................1

put the value principal and rate in equation 1 to find amount any time

amount = principal × e^{rt}

amount = 1000 × e^{0.08t}

in 2nd part we have time 40 year and amount 1 million so put rate amount and time in equation 1  to find principal

rt = 0.08 × 40 = 3.2

amount = principal × e^{rt}

1000000 = principal × e^{3.2}

principal = 1000000 / e^{3.2}

principal = 1000000 / 24.5325302

principal = 40762.20397

so $40762.20 balance of Donna's account will be 1 million dollars when she retires in 40 years

in 3rd part we have amount 1 million and principal $2500 and time 40 year put all these in equation 1 to find rate

amount = principal × e^{rt}

1000000 = 2500 × e^{40r}

take ln both side

ln e^{40r} =  ln (1000000 / 2500 )

40 r = ln 400

r = ln (400) / 40

r = 0.149787

so rate 14.97 %  when Donna's account will have a balance of 1 million dollars in 40 years when principal is $2500

5 0
2 years ago
.Write in standard form. 4h - 6(5+7h)
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Answer:

-38h-30

4h+(−6)(5)+(−6)(7h)

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2 years ago
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