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user100 [1]
3 years ago
13

Olivia invested $2,400 in an account paying an interest rate of 4.6% compounded continuously. Assuming no deposits or withdrawal

s are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach $3,550?
Mathematics
2 answers:
chubhunter [2.5K]3 years ago
7 0

Answer:

8.7 so either 8 or 9 tenth of a year

Step-by-step explanation:

<em>Is it compounded per month? I assume</em>

1. Compound interest formula

FV = PV(1+r/100k)^kn

FV is the future value,

PV is the present value,

n is the number of years,

k is the number of compounding periods per year

r% is the nominal annual rate of interest

2. Plug in numbers

3550 = 2400(1+4.6/100*12)^12*n

71/48 = (6023/6000)^12n

12n = logBase(6023/6000)*(71/48)

n = answer/12

n ≈ 8.70

FinnZ [79.3K]3 years ago
5 0
8.7 so 8 or 8 of they year is the amount.
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127 children and 264 adults swam at the public pool that day

Step-by-step explanation:

On a certain hot​ summer's day

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We need to find how many children and how many adults swam at the public pool that​ day

Assume that the number of children is x and the number of adult is y in that day

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- Add x and y, then equate the sum by 391

∴ x + y = 391 ⇒ (1)

∵ The daily price for children is $1.25 per child

∵ The daily price for an adult is $2.25

∵ The receipts for admission totaled $752.75

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Now we have a system of equations to solve it

Subtract equation (1) from equation (2) to eliminate x

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∴ y = 264

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∵ x + 264 = 391

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∴ x = 127

127 children and 264 adults swam at the public pool that day

Learn more:

You can learn more about the system of equations in brainly.com/question/2115716

#LearnwithBrainly

6 0
3 years ago
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Step-by-step explanation:

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Harman [31]

Answer:

y = 3\sqrt{7}

Step-by-step explanation:

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