1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Sever21 [200]
3 years ago
7

A man with ​$20,000 to invest decides to diversify his investments by placing ​$10,000 in an account that earns 5.2​% compounded

continuously and ​$10,000 in an account that earns 6.4​% compounded annually. Use graphical approximation methods to determine how long it will take for his total investment in the two accounts to grow to ​$35,000. It will take approximately nothing years for his
Business
1 answer:
Fynjy0 [20]3 years ago
8 0

Answer:

9.749 years

Explanation:

Given that :

Principal, P = 20,000

Total investment A = 35000

Investment 1:

P = $10,000

Compounded continuously at r = 5.2% = 0.052

A = Pe^rt

Investment B:

P = $10,000

Compounded annually at r = 6.4% = 0.064

A = P(1 + r)^t

Hence, final amount, A on both investment = 35000

A = Pe^rt + P(1 + r)^t

35000 = 10000e^0.052t + 10000(1 + 0.064)^t

Divide through by 10000

3.5 = e^0.052t + 1.064^t

t = 9.749123

t = 9.749 years

You might be interested in
Select the examples that best represent Architecture and Construction customers. Check all that apply.
Sloan [31]

Answer:

Explanation:

1 5 6

7 0
3 years ago
Read 2 more answers
The U.S. government decides that the incomes of dairy farmers should be maintained at a level that allows the traditional family
luda_lava [24]

Answer:

$2.8 billion per year

Explanation:

Currently the amount of surplus milk in the US is really high since the demand per capita for milk has decreased by 40% in the last 50 years. Excess milk is turned into cheese since it doesn't last very long, and the current amount of surplus cheese is 1.4 billion pounds.

If yous need on average 4 pints of milk per pound of hard cheese and 2 pints per pound of soft cheese, that means that the total surplus milk production is between 2.8 and 5.6 billion pints.

If the government is going to purchase that excess milk, then it is going to need at least $2.8 billion per year.

5 0
3 years ago
Select the correct answer. Which part of a speech contains the speaker’s arguments, ideas, examples, and proof? A. the title of
Marina86 [1]

Answer:

Its in the body o

Explanation:

6 0
3 years ago
Bob has a loan that he does not think he can afford and wants to make sure his credit score is not affected. Which of the follow
Simora [160]
A. <span>making at least the minimum payment, even if they are late</span>
6 0
3 years ago
A performance obligation is:
ANEK [815]

Answer:

.

Explanation:.

5 0
4 years ago
Other questions:
  • The story of the Reset Button is an example of a noise caused by (select all that apply)
    12·1 answer
  • A $10,000 8 percent coupon bond that sells for $10,000 has a yield to maturity of
    15·1 answer
  • Suppose the market for the magazine is in equilibrium. Some students insist on raising the cover price by $1 and printing the sa
    5·1 answer
  • If Gerry makes a deposit of $1,500 at the end of each quarter for five years, how much will he have at the end of the five years
    7·1 answer
  • You will want to list your work content skills, functional skills, educational history, and work experience in your?
    11·2 answers
  • Yield to maturity (YTM) is the rate of return expected from a bond held until its maturity date. However, the YTM equals the exp
    9·1 answer
  • Why do you think it's better to invest in a variety of stocks, rather than in just one?
    11·2 answers
  • a lawnmower manufacturer has the following loss distribution for its annual products liability costs: loss probability 250,000 0
    10·1 answer
  • At the beginning of the tax year, Barnaby's basis in the BBB Partnership was $50,000, including his $5,000 share of partnership
    9·1 answer
  • If specialization and outsourcing can harm domestic workers, why do countries still engage in trade? choose one:
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!