1/2x^2 -8x+3 NEED HELPPPPPPP NOWWWWW
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We have been given that miss Roxanne is 25 years old and she puts 1800 dollars per quarter that returns 6% interest.
(a) We need to figure out how much will be in the account when she turns 65 years old. When she turns 65 years old, the number of years during which she made deposits would be 40. Since she made quarterly deposits. She made a total of 160 deposits. We can now figure out the final amount in the account using future value of annuity formula.
We have the values P=1800, r=6/4% = 1.5% = 0.015 and n=160.
Therefore, the amount in the account would be:
Therefore, miss Roxanne will be 1179415.39 dollars in her account when she turns 65 years old.
(b) In this part we need to figure out the total amount she deposited.
The total amount she deposited would be .
(c) We can find the interest earned by subtracting her contribution from the answer of part (a).
Interest earned =
We need to find the interest rate in order to solve this problem:
.12/12 = (.01)
The number of years is unknown. T represents time in the following formula:
1000 (initial investment)
2000 (balance after t years from investment)
=$2000
In order to isolate the exponential term, both sides must be divided by 1000.
=2
By using natural logarithm:
By dividing both sides of the equation by