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3 years ago

A person invested $3,600 in an account growing at a rate allowing the money to

Mathematics

1 answer:

Lelu [443]3 years ago

4 0

Answer:

$14400

Step-by-step explanation:

3600*2=7200 after the first 7 years

7200*2= 14400 after the next 7 years

17-14=3 years left after the first 14 years

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how much money should be deposited today in an account that earns 5% compounded quarterly so that it accumulate to $7500 in 5 ye

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Knowing that it is a quarterly rate, we know that there are 20 quarters in 5 years:

20(1.05(x)) = 7500

21x = 7500

x = 357.14

You should deposit about $357.14

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3 years ago

What is the y-intercept of the line?

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2 years ago

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How much would you need to deposit in an account each month in order to have $40,000 in the account in 8 years? Assume the accou

kolbaska11 [484]

Answer:

Step-by-step explanation:

<h3>$40000 = amount after 8 years </h3><h3>time = 8 years </h3><h3>interest = 3%</h3><h3>principle amount = ?? ( p )</h3><h3>$40000 = (( p ) × 3 × 8 )÷100</h3><h3>p = (40000 × 100) ÷ ( 3 × 8 )</h3><h3>p = $166666.67</h3>

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3 years ago

Given the figure above, if

Phoenix [80]

Answer:

The value of m8 is 97°

Step-by-step explanation:

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3 years ago

You invested a total of $9,000 at 4 1/2 % and 5% simple interest. During one year, the two accounts earned $435. How much did yo

KonstantinChe [14]

Answer:

The amount invested at 4.5% was $\$3,000$

The amount invested at 5% was $\$6,000$

Step-by-step explanation:

we know that

The simple interest formula is equal to

$I=P(rt)$

where

I is the Final Interest Value

P is the Principal amount of money to be invested

r is the rate of interest

t is Number of Time Periods

Let

x -----> the amount invested at 4.5%

9,000-x -----> the amount invested at 5%

in this problem we have

$t=1\ year\\ P1=\$x\\ P2=\$(9,000-x)\\I=\$435\\r1=0.045\\r2=0.05$

substitute

$435=x(0.045*1)+(9,000-x)(0.05*1)$

$435=0.045x+450-0.05x$

$0.05x-0.045x=450-435$

$0.005x=15$

$x=\$3,000$

$9,000-x=\$6,000$

therefore

The amount invested at 4.5% was $\$3,000$

The amount invested at 5% was $\$6,000$

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4 years ago