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3 years ago

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Kay inherits $250,000 which she invests today at a rate of return of 9% compounded annually. How much will Kay's investment be w

orth in 4 years?

1 answer:

SIZIF [17.4K]3 years ago

6 0

Answer: $272,500

I hit this by first doing the step by step things and then adding all of them up.

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3 years ago

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the sum of two numbers is 3 3/4 if 1/3 of the larger number is 1/2 more than 2/3 of the smaller find the number

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Let us assume the larger number = x
Let us assume the smaller number = y
Then
x + y = 3 3/4
x + y = 15/4
And
x/3 = (2y/3) + 1/2
x = [3 * (2y/3)] + (3/2)
= 2y + (3/2)
Now putting the value of x from the second equation to the first , we get
x + y = 15/4
2y + (3/2) + y = 15/4
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x + y = 15/4
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3 0

3 years ago

A. Suppose you have just inherited a sum of money. Let’s say you choose to invest the money. How much did you inherit? Choose an

leva [86]

Amount =$48003.20

Step-by-step explanation:

Here apply the compound interest formula;

$A=P(1+\frac{r}{n} )^{nt}$

where;

P=Principal amount invested = $37500

r=rate of interest as a decimal, 2.5% =0.025

n=number of compounding per year=1

t=time period the amount in invested=10

In our case, the amount after investing will be;

$A=37,500(1+0.025)^{10} \\\\A=37,500(1.025)^{10} \\\\A=48003.20$

Interest earned after the period= $48003.20-$37500 =$10503.20

Learn More

Compound Interest formula application: brainly.com/question/7014337

Keywords: inherit, sum, money, interest

#LearnwithBrainly

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3 years ago